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December 27th, 2010

What is a By-Pass Trust?

(Estate Planners) - When planning an estate, there are many different trusts to consider, each of them with different benefits and drawbacks for the grantor and the beneficiary. A trust can reduce the amount of money that your heirs will have to share with their least favorite uncle, Uncle Sam. One of the most popular is the by-pass trust, a simple trust that provides a range of long-lasting benefits.

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December 20th, 2010

What is an A/B Trust?

(Estate Planners) - The sole purpose of an A/B trust is to save on death taxes (estate taxes) that are assessed by the Internal Revenue Service when someone dies. This type of trust only works for those that are married when they pass away. The A/B trust can be beneficial to couples and their children or other loved ones in a variety of ways and is a very viable estate planning tool.

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December 13th, 2010

Why You Need a Power of Attorney

(Estate Planners) - If you’re like most folks, you think of a power of attorney (POA) as being someone that is designated to carry out your wishes and stand in your stead when you’re really ill. In actuality, waiting until you are sick or incapacitated to make an important decision like selecting a power of attorney is foolhardy at best – and disastrous at worst.

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December 6th, 2010

Why You Need a Living Will

(Estate Planners) - Most people do not have a living will, but everyone should have one, even if they are young and healthy. A living will is a legal document that outlines your particular wishes in regards to end-of-life decisions, and is your official declaration of whether or not you want to receive life-sustaining treatments, including cardiopulmonary resuscitation and artificial nutrition should you become incapacitated and unable to make your wishes known.

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November 29th, 2010

Why You Need a Last Will and Testament

(Estate Planners) - No one likes to think about dying, but the truth is that none of us will live forever. If you have been putting off making out a last will and testament, there is no time like now, when you’re young and healthy, to do just that. Wills are not just for the elderly or the super-rich. If you die before making a will, your assets will be distributed according to the law, not according to your wishes.

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November 22nd, 2010

Taking Inventory of Your Assets

(Estate Planners) - When making out a last will and testament, inventorying your assets is unavoidable. Using a form to account for what you have is certainly the easiest approach, but including all of your assets in your will is necessary to make sure that everything that you own is accounted for and distributed according to your wishes.

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November 15th, 2010

What are Bond and Income Funds

(Estate Planners) - For individuals looking for a fixed income from their financial investment, bond and income funds can be a good option. Bond funds focus primarily on bond investments, in combination with other types of debt securities. The type of bonds and debt instruments will vary according to the fund, but may include mortgage-backed securities, government and corporate bonds, and other bond investments.

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November 8th, 2010

What are Balanced Funds?

(Estate Planners) - Balanced funds are a great solution for investors who are looking for a combination of income, relatively low risk, and a modest appreciation in capital. Balanced mutual funds are set up in a way that combines bonds, stocks and sometimes even money market investments, all in set proportions.

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November 1st, 2010

Asset Protection Planning: How Do You Go About Protecting Your Assets?

(Estate Planners) - Proper asset protection should be an important part of financial planning. Without a good plan in place, everything you've worked so hard for could be seized as a result of a lawsuit, judgment, or other situation that could jeopardize your finances. However, asset protection is one of those things that you must plan ahead for. If you wait until

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October 25th, 2010

Asset Protection Trust: What is it? How Do You Set One Up?

(Estate Planners) - "Asset protection trust" is a rather broad term that covers a wide array of legal solutions. This kind of trust is generally put in place in order to ensure that financial assets and funds are to be held in a discretionary fashion. There can be a number of different reasons why these trusts are set up, such as to avoid excessive taxation, provide protection for certain assets in the case of a bankruptcy, or to mitigate

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