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5 Common Questions About Estate Planning

 1. What is the difference between a will or trust?A will is a written instrument that outlines how your assets are to be distributed at your death.  On the other hand, a trust is a written instrument that describes how your assets are to be managed once they have...

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Are Any of These 10 Mistakes Lurking in Your Estate Plan?

1) Lack of Healthcare and Disability Planning. The majority of deaths occur in hospitals or other institutions. Patients may be incapacitated to the point where they can no longer communicate their healthcare wishes. Advance Directives and a Healthcare Power of...

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Do I Need a Will or Trust?

Yes! Everyone needs a will, trust, or both to ensure your legacy is passed on in the way you intend, to provide for children, spouse, and family members, and in the case of trusts, to avoid probate. Wills and trusts are not just for the wealthy: A well-drafted plan...

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Four Common Myths about Estate Planning

1) Myth: My spouse can make all of my healthcare and financial decisions because he/she is my spouse.Reality: This is not always the case. To make sure your spouse can indeed make important medical decisions on your behalf, you should sign a durable power of attorney...

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How to Manage Your Basis “Step Up”

If you or someone you know has received an inheritance, it is important for you to understand how to manage your basis “step up.” A “step up” in basis is the adjustment of the value of an appreciated asset - for tax purposes - upon inheritance.IRS TaxesAn executor who...

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How to Choose a Trustee

When you establish a trust, you name someone to be the trustee. A trustee does what you do right now with your financial affairs - collect income, pay bills and taxes, save and invest for the future, buy and sell assets, provide for your loved ones, keep accurate...

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Estate Planning: Why Me, Why Now, and Is a Will Enough?

You have a family that depends on you. As a parent, you have certain responsibilities ensuring your children’s well-being.  Perhaps you have even heard something about estate planning and it sounds like something you should do to protect your kids, but you are not...

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