Tax and financial planning news from around the web: May 1 – 5, 2023

Eight types of trusts for owners of high-net-worth estates 
Trusts can help high-net-worth people protect assets, minimize taxes for beneficiaries and ensure their money goes where they want it to. 

Partnerships face increased tax audit risk 
Here are the five time-sensitive actions that a partnership or its representative should take within 30 days of receiving the notice of selection for examination.