Advanced Trust Planning Law Firm in Akron, OH
Spatz Law Group designs advanced trusts for families across Northeast Ohio with larger estates, so more of what you've built reaches your children and grandchildren, protected and on your terms.
Advanced trusts are where Debra A. Spatz's background does its heaviest lifting. Before focusing on estate planning, she earned a degree in finance and practiced transactional law in Chicago, so life insurance, business interests and investment growth are familiar ground.
These are the tools for families who already have the basics in place and now worry about federal estate tax, a child's future divorce, or wealth that disappears within a generation. Each one is explained in plain English, with its trade-offs laid out before you sign anything.
Instead of a one-size-fits-all trust, your plan uses only the structures your estate genuinely calls for, coordinated with your will and existing trust.
The result is a plan that protects what you've built for the people who come after you.
Irrevocable Life Insurance Trusts
An irrevocable life insurance trust becomes the owner and beneficiary of your policy, so the payout lands in the trust instead of your taxable estate. The trustee you choose then uses that money for your family the way you choose, whether that means a surviving spouse, college costs or staggered distributions as your children grow.
Learn more about Irrevocable Life Insurance Trusts
Marital Trusts
If you die first, a marital trust takes care of your spouse for the rest of their life, then passes what remains to the people you named. It is especially valuable in a second marriage, where it protects your children's inheritance while your spouse still lives comfortably, and it can help defer federal estate tax.
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Dynasty Trusts
Wealth that passes outright to children can disappear within a generation, through divorce, creditors or simple overspending. A dynasty trust keeps it in trust for your children, grandchildren and beyond, which Ohio law allows to last indefinitely, with guardrails you design for how and when each generation receives help.
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Grantor Retained Annuity Trusts
A grantor retained annuity trust works in a set sequence. You place growing assets, like business interests or investments, in the trust and receive fixed payments for a set term. Any growth above an IRS-set rate then passes to your children with little or no gift tax, which suits families expecting an asset to grow.
Learn more about Grantor Retained Annuity Trusts
Qualified Personal Residence Trusts
A qualified personal residence trust lets you give your home or vacation property to your children at a reduced value for gift tax purposes, while you keep living there. You choose a set term. Once it ends, the home passes to your children, and if you want to stay, you can rent it back from them.
Learn more about Qualified Personal Residence Trusts★★★★★Google review
I’ve known Attorney Deb Spatz for over two years, and she is one of the most caring and passionate estate planning attorneys in Ohio. Deb goes above and beyond to make sure her clients are fully supported with their wills, trusts, and estate planning needs. She has a gift for explaining complicated topics in a way that feels clear and approachable, which helps families feel confident and at ease throughout the planning process.
As a fellow attorney, I trust Deb completely and have no hesitation referring clients to her for Ohio estate planning services. She treats every family with compassion, professionalism, and the highest level of care. If you are looking for a knowledgeable, trustworthy, and heart-centered Ohio estate planning lawyer, I highly recommend Deb Spatz.
FAQ
Frequently Asked Questions
Do I need an advanced trust if my estate is under the federal estate tax exemption?
Often not for tax reasons. Today's federal exemption is high enough that most families won't owe estate tax. But some of these trusts also protect inheritances from a child's divorce or creditors, or provide for a spouse in a second marriage. Debra reviews your estate and tells you plainly whether one is worth it.
Can I change an irrevocable trust once it's signed?
It's difficult by design, which is part of what gives these trusts their tax and protection benefits. Ohio law allows some changes in limited situations, such as with court approval or through powers written into the trust, but you should plan as if the terms are permanent. That's why each trust is explained, with its trade-offs, before you sign.
How is a dynasty trust different from a regular trust for my children?
A typical trust for children ends when they reach a certain age and hands everything over. A dynasty trust continues for generations, so each generation benefits while the assets stay inside the trust. Because the money never passes to them outright, it is better protected from each beneficiary's divorce or creditors.
Does life insurance count toward my taxable estate?
Yes, if you own the policy when you die, the death benefit generally counts toward your taxable estate, even though your beneficiaries usually receive it income tax free. An irrevocable life insurance trust can own the policy instead. If you transfer an existing policy into the trust, it can still count in some cases, so timing matters.
Who manages these trusts after I'm gone?
The trustee you name, who can be a trusted family member, a friend or a professional trustee. You can also name backups in case your first choice can't serve. Debra helps you weigh who can handle the responsibility and stay fair to everyone involved.