A simple way to avoid probate is to give away property during your lifetime. But there can be consequences because you lose control and cannot recover the item, cash or property just by asking. The new owner has to agree to return something to you or even use funds for your benefit. You should only…
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Probate, Estate Planning
Q. What things can be done to avoid probate? A. A simple way to avoid probate is to give away property during your lifetime. But there can be consequences because you lose control and cannot recover the item, cash or property just by asking. The new owner has to agree to return something to you…
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Does a revocable trust replace a will? Do all assets have to go into the revocable trust? And how much do trustees typically get paid?
Living or revocable trusts are effective estate planning tools that can avoid the hassle and cost of probate and ease the transition of assets after the death of a grantor. Clients often think that because their trust contains some, if not all, of their assets, that they only need a living trust to direct distribution…
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Irrevocable Trusts
Q. How do I know if I need a revocable or irrevocable trust? A. You should consult with a legal professional that handles both kinds of trusts. Provide a clear explanation of your goals and the assets you are planning to use to fund the trust including any life insurance you plan to purchase or…
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