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For a gift that could last forever, the best time to act may be now. By Ian Prior, U.S. Trust |
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WHO COULD HAVE IMAGINED that a wealth transfer tool- one formulated in the era of the industrial tycoon, no less-would become an estate planning superstar overnight? Yet the long-term (or dynasty) trust, a means to pass on wealth to multiple generations free of estate taxes, recently underwent just such a makeover. And changes in tax laws are the reason.