Advanced, Charitable and Multigenerational Trust Planning.
For families and principals with substantial wealth, business interests, liquidity events, philanthropic goals, or multigenerational planning objectives, advanced trust techniques may be appropriate. We coordinate legal design with the client's CPA, financial advisor, insurance professional, valuation professional, and other advisors as needed.
Qualified families and principals with substantial wealth or business interests, philanthropic objectives, or multigenerational planning goals.
- Dynasty trust planning under Texas's 300-year rule
- Irrevocable life-insurance trusts (ILITs)
- Grantor Retained Annuity Trusts (GRATs)
- Intentionally Defective Grantor Trusts (IDGTs)
- Spousal Lifetime Access Trusts (SLATs)
- Charitable remainder and charitable lead trusts
- Generation-Skipping Transfer (GST) tax planning
- Family foundations and donor-advised-fund coordination
The Lone Star Counsel process, adapted to the matter.
- 01Understand
Family, assets, and objectives.
- 02Design
Legal architecture appropriate to the matter.
- 03Draft
Trust and companion instruments.
- 04Fund
Assets and beneficiary designations aligned.
- 05Maintain
Reviews as life and law evolve.
About advanced, charitable & multigenerational trust planning.
- Do these techniques still make sense under current federal law?
- Federal exemption amounts and rules change. Advanced techniques still have applications for qualified families, but the design depends on current law, the client's circumstances, and coordinated income-tax and gift-tax analysis. Plans should be reviewed periodically.
- Is a charitable remainder trust the same as a donor-advised fund?
- No. Charitable remainder trusts and donor-advised funds serve different objectives and have different tax and control implications. Selection depends on the family's goals, asset mix, and philanthropic timeline.
- How does Texas law affect a dynasty trust?
- Texas permits a trust to endure for 300 years under Section 112.036 of the Texas Property Code. Combined with no state-level income tax and a directed-trust statute, Texas has become a workable jurisdiction for long-duration planning.
A confidential conference with Darryl V. Pratt, Esq., CPA.
Nearly 30 years of business, estate, trust, and succession counsel. Frisco headquarters, or by secure video across the state of Texas.