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Trusts for Personal Residences

A person's estate planning strategy should aim to minimize their beneficiaries' taxes while protecting their assets. The qualified personal residence trust (QPRT) is a valuable tool in this area. This specialized trust enables individuals to transfer their primary residence or…

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Estate Planning for Farms and Ranches

Succession and estate planning can be challenging for farm and ranch property and related livestock, equipment, and other personal property. There is a common misconception that federal estate taxes threaten farm or ranch property, preventing assets from getting to rightful…

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Estate Planning Mistakes to Avoid

Having an estate plan ensures that your assets, interests, and those you care about are protected after you die. Unfortunately, many individuals make costly mistakes without proper advice and guidance from a qualified estate planner. Beyond undermining your intent and…

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Why Health Care Directives Are Important

In some cases, disease, injury, or illness can prevent people from communicating their needs and wants. When this happens, they need someone they trust to advocate for them. You can prepare the proper legal documents in advance. Losing the Ability…

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The Problems with Self-Drafted Wills

In the event of your death, a will addresses who will inherit your assets and properties according to your wishes. Your will names a personal representative (executor) who will carry out your directives. In addition to asset distribution, your executor…

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Estate Planning for Widows and Widowers

A spouse's death is a life-changing experience emotionally, spiritually, and often financially. It is common for one spouse to handle family tax and estate plans, and a widow(er) may be looking at a complex financial situation with more questions than…

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