The Having Your Cake and Eating It Too
(HYCET) trust allows moderately wealthy individuals to take advantage of the current estate planning election. Approved by the IRS and prmoted by Jeffrey Verdon, The HYCET trust allows the grantor to be a permissible beneficiaries. With the gift and estate tax exemption at $5,120,000, wealthy individuals with income between $1 and $10 million are uncertain as to how to plan their estate. A decision needs to be made by the end of the year as next years estate taxes are uncertain but not expected to be as favorable.
See Peter J Reilly, "2012 Mega-Gift? Tough Decision For The Moderately Wealthy
", Forbes.com, (April 22, 2012)
Posted by Myriam Clerge
, Associate Editor, Wealth Strategies Journal