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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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Medicaid Gift Penalty: An Overview

People are living longer than previous generations in the US and around the world, so many of us will need long-term care in the future. It’s estimated that seven out of ten Americans will need long-term care during their lives.…

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Introducing SECURE 2.0 in 2023

SECURE (Setting Every Community Up for Retirement Enhancement Act) introduced the first major changes to retirement legislation since 2006's Pension Protection Act. The impact of the SECURE Act on some retirees, near-retirees, and their future beneficiaries may significantly affect you,…

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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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