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Who should I pick to be successor trustee?

Posted on July 27, 2018
Category: Estate Planning
When you create a living trust, you usually need to choose who to name as your successor trustee. It is crucial that this decision is not taken lightly and that the right person is selected for the job. Role of Successor Trustee If you become incapacitated, your successor trustee will step into your shoes and take full control of your trust assets on your behalf. This means he or she will have full authority to
Your children are your pride and joy. It is no surprise that at some point or another, every parent likely becomes concerned about who will care for a minor child or children if one or both parents die or are incapacitated. From a financial perspective, many parents turn to life insurance in an effort to take care of their family in the event of death. While it is true that life insurance is a particularly
Effective September 28, 2018, the IRS is ending the Offshore Voluntary Disclosure Program (OVDP). In order to participate in the OVDP, a taxpayer must make a complete submission by September 28, 2018. OVDP is a voluntary disclosure program specifically designed for taxpayers with exposure to potential criminal liability and/or substantial civil penalties due to a willful failure to report foreign financial assets and pay all tax due in respect of those assets.  OVDP is designed

3 Simple Ways to Avoid Probate Costs

Posted on May 16, 2018
Category: Estate Planning
The bad news: probated estates are subject to a variety of costs from attorneys, executors, appraisers, accountants, courts, and state law. Depending on the probate’s complexity, fees can run into tens of thousands of dollars. The good news: probate costs can be reduced by avoiding probate. It’s really that simple. Here are three simple ways to avoid probate costs by avoiding probate: Name a Beneficiary. The probate process determines who gets what when there is
Comprehensive estate planning is more than your legacy after death, avoiding probate, and saving on taxes. Good estate planning includes a plan in place to manage your affairs if you become incapacitated during your life and can no longer make decisions for yourself. What happens without an incapacity plan? Without a comprehensive incapacity plan in place, your family will have to go to court to get a judge to appoint a guardian or conservator to

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