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Outline - CCBA Estate Planning And Probate Section
Get Outline - CCBA Estate Planning And Probate Section
E 8, 2012 by Don Totusek Francis, Orr & Totusek, L.L.P. 2550 Lincoln Plaza 500 N. Akard Street Dallas, Texas 75201 (214) 740-4250 (214) 740-4266 fax dtotusek fotllp.com Donald L. Totusek All Rights Reserved TABLE OF CONTENTS I. INTRODUCTION. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 A. Scope of Outline. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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438A FAQ
Expert-Verified Answer Estate planning helps ensure appropriate distribution of possessions and is not limited to a specific age. It does not increase the cost of settling an estate and is not associated with long-term illness.
Estate planning is all about protecting your loved ones, which means in part giving them protection from the Internal Revenue Service (IRS). Essential to estate planning is transferring assets to heirs with an eye toward creating the smallest possible tax burden for them.
This type of planning helps determine who can make decisions on your behalf, who takes care of your dependents, and how to avoid unnecessary taxes and waiting periods. Estate planning covers any decisions regarding money, property, medical care, dependent care, and other matters that can arise when a person dies.
The goals of estate planning traditionally have been to provide for the orderly transfer of wealth to younger family members in ance with the wishes of older family members; to avoid unnecessary transfer taxes, including gift taxes, estate taxes, and generation- skipping transfer taxes; to reduce income taxes; ...
Estate planning involves determining how an individual's assets will be preserved, managed, and distributed after death. It also takes into account the management of an individual's properties and financial obligations in the event that they become incapacitated.
Estate planning involves determining how an individual's assets will be preserved, managed, and distributed after death. It also takes into account the management of an individual's properties and financial obligations in the event that they become incapacitated.
Estate planning includes more than just who gets your assets after your death. It also includes preparing a Durable Power of Attorney and Advance Health Care Directive to give authority to trusted people to handle your finances and take care of your medical needs if you become incapacitated due to an injury or illness.
Estate planning is the process of accumulation, management, conservation, and transfer of wealth considering legal, tax, and personal objectives.
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