Feds want home, say owner hid millions in trust. The IRS wants $1 million in back taxes from a man who changed his name and transferred $4 million to a "Massachusetts special needs trust." Think the ploy will work?Can you protect assets from in-laws? Elaine Morgillo discusses trusts as a way to protect a child's inheritance from improvident or impermanent spouses. The subject is getting increased attention, especially now that New York has joined the states permitting same-sex marriage. For privacy reasons, Morgillo points out, such trusts are better created via revocable living trust rather than by will: one child need not know that a sibling's inheritance is structured differently.
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