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August 22nd, 2011

What is a Grantor Trust?

(Estate Planners) - One type of grantor trust that is useful in estate planning is a grantor trust. This trust allows the grantor (the individual who establishes the trust) to have control over the trust assets and receive income that is created from the trust. The grantor trust is often called a living trust or a revocable trust.

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March 21st, 2011

What is a Revocable Trust?

(Estate Planners) - If you have concerns about how the beneficiaries of your estate will manage their inheritance when you have passed away, a revocable trust may be the best option for you. There is often at least one heir in the family who has trouble managing their money, and leaving that individual with a large sum could end up with disastrous results.

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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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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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September 21st, 2010

Estate Planning

(Estate Planners) - Estate planning involves making decisions about what will happen to your property and assets after you die. Planning ahead of time exactly how you want your assets distributed and to whom will make your passing easier on your family and friends since your final wishes will be clearly defined through documents such as a will, a power of attorney, a medical power of attorney, and funeral arrangement requests. Estate planning

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September 21st, 2010

Estate Planning Attorneys

(Estate Planners) - Estate planning attorneys specialize in areas of the law that affect the property that a person leaves when he dies. Estate planning attorneys assist their clients in making decisions about how their estate should be handled while they are living in order to plan for their eventual death. One of the main areas estate planning attorneys will focus on is the tax consequences of different courses of action. Naturally, the main goal will be to minimize the amount of taxes

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September 21st, 2010

Estate Probate Law

(Estate Planners) - Estate probate law deals with the property that a person has accumulated at the time of his or her death. The estate is the net worth of a person when he or she dies. If a person has more assets than liabilities, he has an estate. If he has more liabilities than assets, he does not have any estate because his creditors are entitled to his property to pay the debts that he owes. For example, if James has a house worth $100,000 but still owes $30,000 on his mortgage, then his net worth is $70,000. However, if he has a checking account

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