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A trust is created when residential or commercial property (realty,financial resources,concrete products) is handled by an individual for another individual’s advantage.
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A long as your premium payment follows the “gifting” guidelines,as explained below,there will be no gift taxes incurred by either you or your beneficiaries.
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It will allow you to control,when,how,and why your beneficiaries get the earnings of your policy I need a estate planning attorney,should I call Steve Bliss Law Steve Bliss Law Tenants-In-Common Property Tenant-in-common assets include property titled in the decedent’s name as a tenant-in-common with one or more other individuals.
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A living will goes along with a health care power of attorney,as it can serve as a guide to your agent,or can express your wishes in the event your agent is unavailable at a crucial moment A minimum of one trustee should be designated to handle the trust,though several individuals or companies may be called all at once steveblisslaw com A Note About Revocable Trusts.
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