Glossary Terms

A Domestic Asset Protection Trust, “DAPT”, is an irrevocable trust established under the laws of a state that has sanctioned its use and is managed by an independent trustee. Unlike the typical [...]

An irrevocable trust that is a completed gift by the Grantor usually of amounts not to exceed the Annual Gift Tax Exclusion. Read More

A trust created after the death of the Grantor for the benefit and protection of the inheritor (or created to receive lifetime gifts and inheritance from the Grantor). Read More

Federal Estate Tax: The federal estate is part of a unified federal gift and estate tax that is an excise on the transfer of wealth. Read More

Delaware Incomplete Non-Grantor Trust. Also NING and WING (same thing in Nevada and Wyoming. DE, NV and WY are popular but are not the only states where this can work). A trust designed for the [...]

The Setting Every Community Up for Retirement Enhancement Act of 2019, known as the SECURE Act, became law on December 20, 2019. The Act impacts retirement savings rules and taxes for workers and [...]

A trust, usually revocable during the life of the Grantor, that acts as a beneficiary of a retirement account such as a traditional IRA, a Roth IRA, 401(k), 403(b), 457 plan and so forth. Read More

The act of refusing an inheritance or survivorship benefit (like a joint account) and letting the asset(s) pass to the net beneficiary(ies) or trust in line.