Tax season is upon us.  I have been getting a number of questions on how to zero out a trust.  Recognizing the demand for answers, I have written a new article that can be found at http://www.legalees.com/zeroing-out-a-trust/.

Trusts can be great asset protection and probate avoidance tools, so I nearly always recommend setting them up as part of your estate plan.  However, trust tax rates are so high that it is imperative that trust income passes through to the beneficiaries to avoid paying unnecessary taxes.

Lee Phillips

P.S. Last year Ben Rucker and I significantly updated my Advanced Tax Tactics course.  In order to help my students during tax season, for a VERY limited time we are offering a 40% discount on the course.  Use promocode "TaxSeason" at checkout on the Manage Cart page. Offer ends April 15th.