Benefits of Third Party Trusts

Edward D. Brown (Engel & Reiman PC) has recently released his article entitled Third Party Trusts Integrate Estate and Asset-Protection Planning.  Here is the description of the article as found on SSRN:

The author describes the strategy of using an irrevocable trust as a vehicle to preclude having assets subject to estate tax, even though the assets remain available for access by the individual who implements this strategy. As a bonus benefit, the assets also will be protected from creditors. This vehicle allows the property to be placed into a structure by means of a tax-free sale. The structure can be designed as a domestic trust. The structure can also be designed as a foreign trust with stronger asset protection features, yet be treated as a domestic trust for U.S. income tax reporting purposes