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Many people believe that having an estate plan simply means drafting a will or a trust However the power of lawyer we’re discussing here is extensive; it’s designed to let somebody else manage all your financial affairs for you if you end up being incapacitated Estate Lawyer So if you pass away on New Year’s Eve this year with $5 million,no estate tax is due.
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Record keeping is also a lot easier,since there’s no need to keep personal funds separate from the estate’s funds and there are also no tax issues regarding who owns the income generated by the account have.
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