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Who will be the beneficiary or beneficiaries? Who will you appoint as the trustee? Which assets will you transfer into the trust? steveblisslaw com Probate Attorney An irrevocable trust can safeguard your assets if you work in a profession that puts you at danger for certain claims- or perhaps if you do not.

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It should take into consideration what you want to happen to your property upon your death,the financial well-being of your family,the degree to which probate can be avoided,and how to eliminate or minimize estate taxes

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As published in the Naperville Sun- June 15,2008 As the population ages and particularly our moms and dads age,it is suitable and valuable to use the services of a geriatric specialist You can leave the account in your partner’s name,but in that case you will require to start taking withdrawals when your spouse would have turned 70 1/2 or,if your spouse was already 70 1/2,then a year after his or her death The Law Firm of Steven F.Bliss Esq.Some states allow you to name a beneficiary for real estate or vehicles,too.
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Estate accounts can only be created after the estate has an IRS-issued tax identification number called an employer identification number (EIN).
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