Estate Tax Law Index

Probate and Estate Administration
Important Responsibilities
If you have ever been named as executor or administrator of the estate of a deceased person, you are well aware of the many responsibilities the personal representative must assume. The process of administering an estate involves collection of assets, payment of debts and inheritance taxes, and distribution to the beneficiaries

Insurance Funded Death Benefit Plans     What is a Funded Death Benefit Plan?A Death Benefit plan is a "non-qualified" plan where you company agrees to pay a death benefit equal to two times your salary for one of your designated heirs. It is non-qualified because you do not have to offer this plan to all employees and you can discriminate in favor of officers and directors. Your business can purchase life insurance to fund all or a portion of the benefit.

Asset Protection Trust     A Domestic Asset Protection Trust is a trust established in a US state designed to shield the trust assets from the creditors of the beneficiary. The idea is that placing assets into a trust can preserve them for the use of the beneficiary while shielding them from most creditors

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