Health and Education Exclusion Trusts

Julius H. Giarmarco, Esq. (Partner, Giarmarco, Mullins & Horton, P.C.) has recently written an article entitled How To “HEET” Up An Estate Plan.

Here is a summary of the article:

This article discusses the benefits of a health and education exclusion trust (HEET) and what considerations and tactics could be used to set one up. The main reason to set up a HEET is to avoid the gift tax and generation skipping tax. The article gives guidance on how to avoid the pitfalls of the generation skipping tax (GST). If the HEET is subject to the GST, then it is not as effective. For those who are not familiar with HEETs, this is a great place to start.