Maximizing Your Irrevocable Gifting Trust: Year-End Tips and Strategies

As we bid farewell to another year, it's time to give your irrevocable gifting trust the attention it deserves. John Strohmeyer from Strohmeyer Law provides invaluable insights on year-end strategies to ensure you and your beneficiaries reap the full benefits of your trust without the burden of undue taxes.
📌 We'll discuss:
1️⃣ Utilizing your Annual Exclusion Gift: Learn how to make the most of the $17,000 annual exclusion gift per person and understand Crummy powers and withdrawal rights for your beneficiaries.
2️⃣ The Importance of Timing: Find out why the end of the year is a critical time for making gifts, and get ahead of the significant tax changes expected by 2026.
3️⃣ Disbursements and Distributions: tax implications of distributions from your trust and how they can affect your overall estate planning strategy.
4️⃣ Preparing for Tax Season: It's time to start preparing your trust for tax day, whether it's taxed as a complex or grantor trust.
5️⃣ Trust Accounting: we'll explain trust accounting in managing your trust and ensuring fiduciary responsibility.
📆 Act Now: With less than two months left in the year, it's crucial to act swiftly. Watch the video to equip yourself with the knowledge you need to make informed decisions about your irrevocable gifting trust.
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💼 About Strohmeyer Law: Strohmeyer Law is a law firm based in Houston, Texas, specializing in tax law, estate planning, and probate law, and we are dedicated to helping clients leave No Unfinished Business®.
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🔗 For more information, visit: www.strohmeyerlaw.com
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