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Trust Powers to the Rescue

Opportunities to improve or save an estate plan

Exercising common trust powers may help minimize income taxes, revise outdated planning, manage trust assets on a more tax-efficient basis or capture unused transfer tax exemptions. These ordinary heroes include: (1) grantor swap power, (2) appointment of spousal lifetime access trust (SLAT) assets to grantor-spouse, (3) allocation and use of unused generation-skipping transfer (GST) tax exemptions, (4) the 65-day rule for distributions, and (5) honorable mentions such as springing the

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