Trust Estate Planning

Why should I set up an estate planning trust?

Setting up a estate planning trust for managing your assets can have huge benefits for you and your estate. Without a trust and estate planning policies in effect, you can end up paying more taxes than necessary during your retirement. Trusts for estate planning can also have an impact on inheritances which can be taxed up to 35 percent, or even as much as 50 percent in 2013 without additional regulations being implemented.  

Benefits to trust estate planning

  • Reduction of estate taxes
  • Avoidance of probate costs and delays
  • Eliminates public exposure 
  • Creation of management through trustees
  • Controlled distribution of wealth
  • Revocation of living trusts

PIASCIK expert tax consultants know every venue of setting up estate planning trusts that maximize the value of your estate. With over 70 years of combined international tax experience, PIASCIK can help set up trust estate planning even with foreign financial accounts, qualified export assets, and foreign tax credits in conjunction with the appropriate totalization agreements. 

Basic versus advanced trust estate planning

Protecting assets accumulated over a lifetime is often the priority of taxpayers getting prepared to retire. There are conditions through which a trusts can actually improve your standard of living. Establishing an estate planning living trust can often get complicated, but there are some basic steps for  the basis of most estate planning trusts. 

Basic steps:

  • Wills
  • Name executors
  • Medical directives
  • Powers of attorney
  • Establish guardianship
  • Trust creation

However, the basic steps only cover the basics. Many trust and estate planning contingencies need advanced specifications for getting the most out of your assets. Knowing when to disseminate wealth and how can make a remarkable difference to maintaining your estate in the U.S. and abroad. PIASCIK has first hand experience in implementing these advanced steps.

Examples of advanced steps:

  • Creation of irrevocable trusts
  • Gifting allowances without taxation
  • Utilization of defective grantor trusts
  • Creation of charitable trusts

PIASCIK can guide you through all of your estate trust planning, regardless if you are a U.S. resident, resident alien, or an expatriate. Our tax experts provide real world solutions that work toward your best interest. 

What is the next step?

The next step is getting a FREE initial consultation for weighing your options. PIASCIK trust estate planning services are offered at flat rates with no hidden surcharges. Our world-class service is recognized as any industry leader with prestigious members in the Society of International Business Fellows and the Virginia International Business Council. PIASCIK is the largest international tax practice south of DC and north of Charlotte, NC with 120 expats represented in 49 countries. No other tax firm has our resources, dedication to customer service, and experience. Contact PIASCIK today and discover how our trust and estate planning services can save you money.