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Trusts and A Trustee’s Duty

A trust is attainable and beneficial to anyone, not just the wealthy. You want to keep your affairs private and stay out of probate court? Maybe you have stepchildren? You want to leave money to your favorite charities? Or you…

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Why It Is Best to Have a Will and a Trust

In estate planning, wills and trusts each have specific purposes and unique advantages. Each state has specific laws and regulations governing these legal documents. You can have both a will and a trust; however, the information in each should compliment…

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Wildlife Expert Retiring Due to Dementia

Famous author, TV producer and wildlife expert, Jack Hannah has decided to go into retirement due to his struggle with dementia. Known as "Jungle" Jack, he left the Columbus Zoo and Aquarium, where he served as director, then director emeritus,…

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Gift Tax Explained

Anytime there is a transfer of assets, such as property or cash from one individual to another without receiving something in return of equal value, a gift tax is assessed. The asset has to be of a certain value for…

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Get to Know Your Parents Medical Wishes

Often parents live far away from their children in the US. Managing aging parents’ or in-laws’ medical events can be a serious challenge without proper preparation and understanding of what your parents' strategy may or may not be, no matter…

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Reasons to use an irrevocable life insurance trust

An irrevocable life insurance trust (ILIT) is created with a life insurance policy as its asset. As the name suggests, the trust grantor cannot, in any way, modify, amend, or rescind the trust or reclaim its property after its initial…

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Coming of Age and Powers of Attorney

When your child turns 18 (in most states), it might be hard to imagine that little child who once needed you for everything has now become – overnight – an adult. Now your child is free to vote, marry, apply…

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When is Disinheriting a Child a Mistake?

Most parents choose to treat their children equally when it comes to inheriting property or money. But sometimes, parents intentionally choose to not leave anything to a child, and the reasons for doing so may vary. One reason could be…

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Equal is Equitable, Most of the Time

When it comes to deciding how to leave property to your children, the clearest choice is to divide everything into equal shares. That is the straightforward choice when all your children are doing equally well. But if not – if,…

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