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Ordinary,or “nondurable,” powers of Attorney automatically end if the individual who makes them loses mental capacity.
A vital part of sensible estate planning is deciding not only who our beneficiaries will be,but likewise how,when,and why they will get our tradition.
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A living trust is a separate legal entity and has full legal authority on its own and thus can avoid the estate planning system entirely,can manage all of your estate distribution and management desires,can accomplish substantial savings on estate taxes,and can remain totally private so that no one knows your business except those persons that you want to have knowledge of your personal and financial affairs.
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A properly drafted estate planning package avoids the long and costly legal process referred to as estate planning.
Should you put your house in a trust? A trust will spare your loved ones from the probate process when you pass away.Putting your house in a trust will save your children or spouse from the hefty fee of probate costs,which can be up to 3% of your asset’s value,call Steve Bliss today.
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