Discussion question
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“Types of Trusts” Please respond to the following:
· Explain the key points to consider when setting up a trust for a beneficiary to reduce the tax burden on the beneficiary. Provide a rationale to support your findings.
· Differentiate between two (2) types of trusts that you would consider for your own family. Identify the primary advantages and disadvantages of selecting each. Provide support for your findings.
Extra Credit
Points
Read Ethics and Equity “To Whom Can I Trust My Pet†on page 28-5 in your text and Helmsley Money Doesn’t Have To Go To Dogs at the link in the Instructor Insights.
How would you advise a client who wants to establish a well-funded trust to care for their dog when the family members have income and asset needs of their own?
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