Hi there,

Here's my weekly update for October 18th, 2020...

🗒️

Texas estate planning attorneys have been buzzing about the SECURE ACT and how it affects clients’ estate plans, especially those Texas trusts.

 If you haven’t met with your estate planning attorney lately to review your trust agreement, the SECURE ACT gives you a good reason for a checkup.

 The BIG REASON you should talk with your estate planning attorney is due to how the Secure Act changes the rules for Inherited IRAs.Over the years, we have typically recommended that qualified accounts, such as IRAs, 401(k)s and 403(b)s, be left out of our client’s trust.

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🗒️ From A Texas Estate Planner: The Top Advantages of the Irrevocable Life Insurance Trust (“ILIT”)

An irrevocable life insurance trust can make lots of sense for Texans, even though Texas currently has no inheritance tax.

For one, we do still have the federal estate tax, and the ILIT helps minimize estate taxes.

BUT WAIT!

There's more...

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🗒️ Texas Estate Planning – Which is Better, Revocable Trust or Irrevocable Trust?

Texas Estate Planning Attorney Isaac Shutt describes the differences between revocable trusts and irrevocable Trusts.

Is a revocable trust better than an irrevocable trust?

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🎥 2 Times An Irrevocable Trust is BETTER THAN A Revocable Trust

When is an irrevocable trust better than a revocable trust?

Texas Estate Planning Attorney Isaac Shutt discusses the two most common reasons clients want irrevocable trusts instead of revocable trusts.

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Enjoy,

Isaac Shutt