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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 The time immediately following the death of a loved one is difficult In addition to the normal grieving process,there are other logistical issues that need to be dealt with,including commencing the probate process San Diego Probate Attorney During this period,the assets are subject to court supervision.
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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 Steve Bliss Law San Diego probate attorney Most people are intimidated by any court proceeding,but the initial probate hearing is a straight forward process.
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San Diego probate law A minimum of one trustee should be designated to handle the trust,though several individuals or companies may be called all at once.
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A Grantor Retained Annuity Trust,or GRAT for brief,is an unique type of irrevocable trust that permits the Trustmaker/Grantor to gamble versus the odds and,if the Trustmaker/Grantor plays their cards right,then a considerable amount of wealth can be moved down to the next generation for essentially no estate or gift tax dollars The Law Firm of Steven F.Bliss Esq.( +1 (858) 278-2800 ).
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Their “estate” is the property they owned when they died.
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