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Post by namazi514 on Feb 13, 2013 23:11:45 GMT -5
Wills and Trust are legal instruments that are prepared by an Attorney in line with your goals and objectives so that you may be able to transfer wealth,control or both to achieve your objective of estate reduction, tax advantage, planning for ones needs or that of your future generation in a manner that is not only tax efficient but is in accordance to your free will. Questions such as who should be the Grantor, the Trustees and the beneficiaries of the Trust. How often should you revisit your trust document. What are Grantor's Trust? AB Trust?. Irrevocable Life Insurance Trust (ILIT) . What is the down side of dying without a will. Should you put your Life Insurance in a trust. How could you reduce your estate taxes? Should you have chosen guardianship for your children? What happens if the guardian you have chosen want to mitigate themselves of that responsibility. Do you have a back up plan? What planning you need to do if you have a mentally challenged child? Wills and trust if properly drawn through an attorney can help you answer these questions. How has the recent fiscal cliff impacted your decision on wills and trusts. Post your questions or concern and the moderators would try to answer your questions or point you to experts in that specialized field.
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Post by Zahid Rupani, CPA, CGMA on Feb 17, 2013 13:43:38 GMT -5
A living will is a VERY important document. If someone is disabled or in case of an emergency when an individual is incapable of making life and death decisions, a living will is the document that provides guidence.
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Post by syedakhanum786 on Jul 31, 2013 18:04:34 GMT -5
I have a living will which is signed by the attorney. My youngest daughter was not born when we had that will written. Should I hire attorney again to get my youngest daughter added to the will?
Another questions. What happens if some provision in will conflicts with law of the land e.g. son gets twice the share of daughter? Will that still be legal if it is part of the will?
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