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This threshold,called an exemption,is indexed for inflation so it increases annually.
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It’s important to draft a durable power of attorney (POA) so an agent or a person you assign will act on your behalf when you are unable to do so yourself The Law Firm of Steven F.Bliss Esq.43920 Margarita Rd ste f,Temecula,CA 92592 Temecula Probate Lawyer If effective immediately,your agent may act even if you are available and not incapacitated.
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All co-trustees must act all,unless the trust provides otherwise Executors can use the account to deposit any payments made to the estate and to pay any ongoing estate debts steveblisslaw com How Does a GRAT Work? Here is a basic introduction of how a GRAT works:.
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So at that time,you are still in complete control of your assets because you are the Trustee of the trust and whoever is Trustee is who manages the assets that the trust owns Once probate is closed,the executor can make final distributions from the estate account to the beneficiaries,after which the account itself can be closed steveblisslaw com Temecula Probate Lawyer.
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To make sure estate taxes are paid when your spouse passes away,at least one trustee of the QDOT must be a U steveblisslaw com Trust Lawyer This document can give your agent the power to transact real estate,enter into financial transactions and make other legal decisions as if he or she were you.
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