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Intentionally Defective Grantor Trusts

An estate plan's goal is to find strategies that combine asset preservation, tax advantages, and flexibility. One such strategy is to create an intentionally defective grantor trust (IDGT). Despite its seemingly contradictory name, an IDGT can be a valuable tool…

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Gun Trusts: The Basics

Legally, firearm trusts allow individuals to own firearms in a unique way that allows them to share access to firearms with others. This approach is beneficial for those who own restricted firearms or firearms regulated by the National Firearms Act…

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A Basic Guide to Estate Taxes

An estate tax is imposed in the US on the transfer of assets from a deceased person's estate to heirs or beneficiaries. An estate tax is not the same as an inheritance tax. It’s a tax on the total value…

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Beneficiaries: What Not to Do

Beneficiaries are common designations in retirement accounts, wills, and trusts, so chances are you have one. A beneficiary is an individual (or legal entity) to receive the proceeds from a financial product or vehicle when the owner passes away. What…

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Creating Wills for Blended Families

Even in cases of inheritance, American families often treat stepchildren the same as biological children. This is particularly true where stepchildren are part of a blended family from an early age. Biological siblings may have different feelings about a stepchild…

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Surviving Spouse Estate Planning

When you lose a spouse or long-time partner, you have a hard time focusing on anything else but the loss you are grieving. However, it is crucial to understand there are important and timely decisions you need to make regarding…

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