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Estate planning is the process of anticipating and arranging for the management and disposal of a person's estate during the person's life in preparation for future incapacity or death. The planning includes the bequest of assets to heirs, loved ones, and/or charity , and may include minimizing gift, estate, and generation-skipping transfer taxes .
Estate planning entails a few different things, including detailing how you'd want your assets and affairs handled after you're no longer around. A will is the most common way, but it's not the ...
The post Personal Representative vs. Executor: Key Differences appeared first on SmartReads by SmartAsset. Personal representatives are tasked with managing estates when people die, either ...
From power of attorney to wills and trusts — here's how to prepare for end-of-life care and estate taxes.
The fee simple estate and the fee tail estate are estates of inheritance; they pass to the owner's heirs by operation of law, either without restrictions (in the case of fee simple), or with restrictions (in the case of fee tail). The estate for years and the life estate are estates not of inheritance; the owner owns nothing after the term of ...
Residence trusts in the United States are used to transfer a grantor's residence out of the grantor's estate at a low gift tax value. Once the trust is funded with the grantor's residence, the residence and any future appreciation of the residence are excluded from the grantor's estate, if the grantor survives the term of the trust, as explained below.
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