-- The Domestic Trust Counsel has today issued a new set of guidelines for individuals looking to pass on their wealth to the next generation. Their new information explains that while estate tax exemptions were doubled in the newest tax law, having more money to give does not remove the burden of having to give this money responsibly to avoid complications and losses. Their advice and guidance is designed to help people easily navigate legacy planning and irrevocable trusts.
Their new briefing (here) on irrevocable life insurance trusts explains when they are safe from estate debt, as well as the importance of keeping an updated beneficiary and back up beneficiary in place to prevent it being included in probate as part of the estate. They also point out important information on process, explaining how a beneficiary cannot be changed in a last will and testament.
Their broader best practice advice on legacy and estate planning is available on the website. It has been designed to help people maximize the inheritance individuals can leave to their beneficiaries, including information on responsible distribution, avoiding unintended beneficiaries, provisions such as health, education & support and more.
A spokesperson for The Domestic Trust Counsel explained, “We are delighted to have updated our information on inheritance tax laws. The doubling of estate tax exemptions this year was a welcome change for many, but it does not mean that individuals should simply leave their estate planning to one side. The coast is not clear, and protective actions are still essential to ensure the right legacy is left. Our website explains this in detail, and the services we provide make this as easy as possible for individuals to arrange, so they can live safe in the knowledge that their loved ones are protected should the worst happen.”
About The Domestic Trust Counsel: The Domestic Trust Counsel is a family run firm focused on helping other families responsibly pass their wealth on to future generations. The company was founded by Mark Pierce a leading provider of expert estate and financial planning in Sheridan, WY and in Gillette, WY. The company specializes in asset protection and legacy trusts, ensuring individuals can take advantage of the latest developments in tax law.
Contact Info:
Name: PRWhirlWind
Email: Send Email
Organization: PRWhirlWind
Address: 905 Broadway St Ste 1000
Phone: 307-751-3066
Website: https://domesticassettrust.com/
Release ID: 301126
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