Benefits of Trusts for the Taxable and Non-Taxable Estate

In light of the portability opportunity and the recent proposal by President Trump to eliminate the estate tax, many people may believe trusts no longer serve a useful purpose in their estate plan. However, trusts still may play a critical role in taxable estates and those estates under the taxable threshold. There are also many non-tax benefits of trusts that should be considered, including asset protection, marital property protection, and a suitable management structure for inherited assets.