Many retirees go to nursing homes as their needs increase, creating a dilemma for protecting their wealth. A revocable trust places your wealth in a tax-protected vehicle you can control until you die. But, unfortunately, it wonât protect assets from ⦠Continue reading â
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There are a lot of aspects of estate planning that can make it feel daunting. To protect your beneficiaries from creditors, you should consider establishing a domestic asset protection trust or DAPT. Here define DAPTs, talk about how they work ⦠Continue reading â
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An estate plan is important for anyone who wants their wishes to be carried out after they are gone. Without a legally enforceable estate plan in place, you run the risk of having a judge interpret state laws to decide ⦠Continue reading â
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For almost all households creating a will is a straightforward, if unpleasant, task. Many individuals will simply have some cash, investments and (often) a home to disperse. And they have a relatively small number of friends and relatives they can ⦠Continue reading â
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Gentreo is an online estate planning tool that lets people create wills and other estate planning documents without the help of an attorney. Gentreoâs $100 fee plus $50 recurring subscription costs are much less than an attorney will charge. Yet ⦠Continue reading â
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Inheriting a house with siblings can raise some questions about what it means for each of you financially. For example, will one of you live in the home and buy out the others? Or will you sell it and split ⦠Continue reading â
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A trustee is responsible for managing the assets held in the trust on behalf of its beneficiaries. If youâre the beneficiary of a trust, you may find it necessary to remove the trustee if you believe that theyâve committed a breach ⦠Continue reading â
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Gift tax can apply when you give money or other assets to someone else. As the gift-giver, youâre responsible for paying any tax due. The IRS allows you to make financial gifts up to a certain exclusion limit each year ⦠Continue reading â
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The recession, inflation and COVID-19 have made a bad situation worse. Financial dependency now has aging parents living with their adult children and their adult children footing the bill for their parentâs ill-planned retirement. All while also trying to raise ⦠Continue reading â
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There is no Florida estate tax, though you may still be subject to the federal estate tax. Itâs one of 38 states in the country that doesnât levy a tax on estates, regardless of size. If youâre concerned about estate ⦠Continue reading â
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