AboutRichard Fritzler Expertise Comparing the advantages and requirements of traditional estate practices, and unconventional methods? Are Trusts a viable asset protection vehicle? Is there an alternative to buying life insurance to reduce the impact of the estate tax. Is the elimination of the estate tax during the next decade good for everyone? I can review the benefits and misinformation that exists.
Experience I have been in the business of assisting business owners in reducing their taxes and liability for over 17 years. We specialize in developing plans that eliminate the estate tax, not find a way to prepay it. Most small businesses do not survive the death of the principal. We want small businesses to not only survive, but flourish.
Organizations National Small Business Owners Association.
Nevada Association of Listed Resident Agents.
Citizens Legal Association
Publications Contributing author to "The Corporate Standard Newsletter".
Question can the trustee withhold a portion of the trust for the purpose of distributing the trust?
he is withholding 40%.
he says he needs to set up a "reserve fund" "for distribution... ."
if he distributed the trust, he wouldnt have to fund a reserve account for later distribution. if a beneficiary has 10K coming and all debts and claims have been logged, listed and paid; if the estate division has been settled and the amount is known, why wouldnt the trustee simply send the beneficiary their money?
Answer Well, one possible reason as you probably already surmised is that he'd be out of a job.
If there is no further potential call on the assets, AND if the trust does not state any specific requirement, then it would be reasonable to fully distribute and close the trust.
The trustee has an obligation to communicate with you and answer all your questions. Keep interrogating.
Richard Fritzler http://www.owelesstax.com
http://www.nevadacorporateservices.com
phone 800 590-6612
