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Author: missingvoree Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121258  
Subject: Trust for an Estate Date: 5/20/2001 11:12 AM
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hello

I am looking to set up a non-revocable or irrevocable trust for my mother. What type of trust has the least amount of tax consequences (estate is below 675K)to ensure that if something happened to me that the trust will provide for her care and life. In the event that she preceded me in death the trust remainder would be passed to me as trustee or the beneficiary. Where should i start, or what should i consider with using this type of vehicle to ensure my mothers well being untill she passes.

Regards,

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Author: pmarti Big funky green star, 20000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 51101 of 121258
Subject: Re: Trust for an Estate Date: 5/20/2001 12:07 PM
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I am looking to set up a non-revocable or irrevocable trust for my mother. What type of trust has the least amount of tax consequences (estate is below 675K)to ensure that if something happened to me that the trust will provide for her care and life. In the event that she preceded me in death the trust remainder would be passed to me as trustee or the beneficiary. Where should i start, or what should i consider with using this type of vehicle to ensure my mothers well being untill she passes.

I'm not an estate planner, nor do I play one on TV, but I can't see the point of a trust while you're alive, especially an irrevocable one which would, I think, give rise to gift tax issues. Since you can tend to your mother's needs while you live, it seems to me you'd be looking for a trust to be established for her benefit upon your death, with the corpus being distributed to whomever upon her death. That way if she dies before you, none of this ever goes into effect. (Whether you should use some sort of revocable living trust in lieu of probate is an issue to discuss with your lawyer.)

Phil Marti

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