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| Author: | Hira, L.S. |
| Title: | Revocable trusts: appealing, but beware |
| Journal: | Journal of Accountancy
1991 : OCT, p.91-96 |
| Index terms: | LAW CIVIL LAW |
| Language: | eng |
| Abstract: | Revocable trusts have been described as estate planning cure-alls. In fact, CPAs are needed to help their clients if they need or not a revocable trust. Advantages: Continued financial management in case of incapacity, deterrence of disputes among heirs and potential income tax savings. Disadvantages: No gift tax consequences. It does not eliminate the need for a will. |
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