Advisors hoping to minimize income taxes and protect the assets of their clients’ estates should be familiar with swap powers and how they work, so they can help clients reap their full benefits.
Financial planners investing trust assets have a critical duty to monitor the swap powers contained in many of those trusts, and to assure that the intended benefits are realized. The money involved in many cases can be substantial, but too often planners don’t understand the nuances of swap powers, how to monitor them, or when and how to exercise them.
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