http://www.thecompletelawyer.com/focus-on/april-2009/the-advantages-of-creating-an-irrevocable-income-only-trust-4046.html The Complete Lawyer is the only website in the legal profession that focuses solely on the professionalism and quality of life and career issues that impact every lawyer’s success and satisfaction. Our contributors are practicing lawyers, innovative authors, veteran coaches and consultants who provide daily tools and insights that help lawyers succeed in their careers and lives as a whole. Mon, 09 Nov 2009 03:22:49 -0800 http://wordpress.org/?v=abc hourly 1 http://www.thecompletelawyer.com/focus-on/april-2009/the-advantages-of-creating-an-irrevocable-income-only-trust-4046.html/comment-page-1#comment-181 Evan Farr Thu, 09 Apr 2009 02:17:32 +0000 http://www.thecompletelawyer.com/?p=4046#comment-181 This is a very good overview article. For a more detailed analysis of these types of trusts, please see the just-released book from ALI-ABA: "Planning and Defending Asset-Protection Trusts," available at www.ali-aba.org/bk64/. My chapter of the book, entitled "Asset Protection for the Middle Class," is a comprehensive legal treatise on irrevocable income-only trusts. This is a very good overview article. For a more detailed analysis of these types of trusts, please see the just-released book from ALI-ABA: “Planning and Defending Asset-Protection Trusts,” available at http://www.ali-aba.org/bk64/. My chapter of the book, entitled “Asset Protection for the Middle Class,” is a comprehensive legal treatise on irrevocable income-only trusts.

]]> http://www.thecompletelawyer.com/focus-on/april-2009/the-advantages-of-creating-an-irrevocable-income-only-trust-4046.html/comment-page-1#comment-171 steve@estateplan-al.com Fri, 03 Apr 2009 14:29:44 +0000 http://www.thecompletelawyer.com/?p=4046#comment-171 Good article. An additional point - if you give the grantor power to add beneficiaires also, the transfer will be an incomplete gift for gift and estate tax purposes so the assets will receive a step-up at the greanor's death. Good article. An additional point – if you give the grantor power to add beneficiaires also, the transfer will be an incomplete gift for gift and estate tax purposes so the assets will receive a step-up at the greanor’s death.

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