Elder Law: Practice, Policy, and Problems (Aspen Casebook)

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Language: English

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Trustees generally will be responsible for, among other things, investing and managing the trust's assets, distributing the assets in accordance with the terms of the trust, keeping accurate records, and filing all necessary tax returns. To function successfully, charitable organizations and foundations rely upon the generosity of others. Even if you are certain about where you want your estate to go – commonly to a spouse or partner, followed by descendants – you need to address what I call the “God Forbid Clause.” I instinctively reach for the box of Kleenex as I ask it.

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Family Limited Partnership: How to Protect Your Family

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Language: English

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Size: 8.55 MB

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This article explores the new Alaska and Delaware statutes authorizing self-settled spendthrift trusts. Choosing and creating a trust can be a complex process; the guidance of an attorney with estate planning expertise is highly recommended. A sworn appraiser is a person appointed by the Master specifically for the valuation of assets in an estate. You’ve spent decades building your business. In fact… Estate planning is easy, if you know what to do. Even if you have what's known as a revocable living trust in which you can put the bulk of your assets, you still need what's known as a pour-over will.

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Special Needs Trusts: Protect Your Child's Financial Future

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If so, then such items are no longer trust assets and have now become assets belonging to the appointed beneficiary of the trust. Within this practice area, however, we cover a broad spectrum: planning, administration and litigation. Estate of $100,00 or more are subject to probate proceedings in Minnesota which can cost anywhere from 2% - 4% of the estate's value in court costs and legal fees. Our lawyers work with multinational families whose members, businesses, and assets span the globe.

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Settling the Florida Estate: The Legal and Practical Things

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In either case, a primary concern will be to achieve the individual’s objectives with as much certainty as possible. Irrevocable trusts are often designed to be the beneficiary of a life insurance policy. Call us at (919) 443-3035 to register for a workshop or find out more details about working with Carolina Family Estate Planning. This article reviews the basics of portability and examines methods estate planners may use to provide for the appropriate use of portability in an estate plan.

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Estate Planning after the 2001 Tax Act: Guiding Your Clients

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Language: English

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Life (Insurance) After Tax Reform: Advising Clients in Uncertain Times A guide to life insurance planning in the midst of uncertainties following tax reform. Finally, we can make sure that all of this happens in a way so that your gifts and your life is remembered and respected, and that should be how we define estate planning. To avoid potential disputes among beneficiaries, a will should be carefully drafted by a Pennsylvania wills attorney.

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A Will Is Not Enough in Michigan

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Language: English

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My Trustee shall distribute the total amount sum of Twenty Thousand Dollars ($20,000) of the net income of the Trust on a monthly or more convenient basis, but at least quarterly, to my son, JOSEPH PAUL DIMAGGIO, JR. The farm property must be devoted exclusively to an agricultural use. However, once again, assets must be taxed before going into a trust and once in the trust, they are subject to realizing capital gains every 21 years, rather than an open-ended deferral of taxes.

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Estate Planning Client Strategies, 2011 ed: Leading Lawyers

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Usually, the first thing people ask regarding a trust is whether they should have one or not. Portability of the unused exemption of the first spouse to die is explained. Or maybe it’s even deeper than that, says Sadek, pointing to the changing nature of the traditional nuclear family. "It’s the Brady Bunch factor. If you wish to protect your estate after it has been given to a beneficiary, a trust might be able to help. We are the only law firm in Minnesota with four current or past chairs of the Minnesota State Bar Association Probate and Trust Law Section.

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15 Things You Didn't Know About Living Wills

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In estate and trust administration, we perform tax and non tax legal services that permits an executor or trustee to make distributions from an estate or trust at the earliest and best time. Here are listed some of the different Florida trusts that we can help you learn more about: Each meeting highlights select sponsors, has a formal presentation by a noteworthy speaker, and often includes CE credits. The person in charge of the trust is known as the trustee.

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The Complete Guide to Planning Your Estate in Ohio: A

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You can skip life insurance if you have no one to support or you have enough money socked away to provide for your spouse or partner. Navigating the complicated world of North Carolina Medicaid planning for elderly care can be confusing, especially when all you want is the best for your parent, grandparent or loved one. If it's (a tax exemption of) $3.5 million, they've lost an opportunity to save taxes on nearly $2 million this year if they don't do anything," says Susan Dsurney, family wealth adviser with GenSpring Family Offices LLC in Palm Beach Gardens, Fla.

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Arizona Estate Administration Answer Book: Practical Answers

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Language: English

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Size: 6.95 MB

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If you place your assets in an irrevocable trust, the body of the trust may not be counted as an asset for Medicaid applications for nursing home care. Coleman and The Coleman Law Firm, PLLC, are “AV” rated by Martindale-Hubbell, the peer review rating service for lawyers and are listed in the Martindale-Hubbell® Bar Register of Pre-Eminent Lawyers, which lists only those select lawyers and law firms who have earned the A-V® Rating in the Martindale-Hubbell Law Directory and have therefore been designated by their colleagues as pre-eminent in their field.

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