Multipurpose trusts can replace many estate-planning tools

03/3/2013 | Financial Planning

A single multipurpose trust that can handle many planning goals will be the ideal estate-planning tool now that federal law has permanently raised the exemption to $10.5 million and made it portable between spouses. It is superior to other tools, such as bypass trusts or spousal lifetime access trusts, because of its flexibility, simplicity and cost-effectiveness.

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