| Basic Trust Types and Formation |
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| A trust may be formed for any purpose that is lawful and not against public policy. More... |
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| Fraudulent Transfers and Asset Protection Trusts |
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| It seems that all of us want protection from creditors, whether we need it or not. Trusts are one form of legal vehicle that can be used to protect assets, and there are a number of variations of these, both domestic and foreign. More... |
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| Inheritance Without Planning Means No Person Is In Control |
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| When a person dies intestate (without making and leaving a will), each state provides a default plan (usually known as the statute of descent and distribution) under with his or her net estate is disposed. Under the default plan, no person is put in control of the disposition. The disposition must go according to the defaul plan. This article discusses the disadvantages of descent and distribution related to that inability to have a person put in control of the disposition.More... |
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| Conservatorship Proceedings |
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| A durable power of attorney for finances is an inexpensive legal document that allows you to name someone to make your financial decisions if you become unable to do so yourself. The main reason to make a durable power of attorney for finances is to avoid court proceedings if you become incapacitated. If you do not have a durable power of attorney, your loved ones will have to ask a court to give them authority over your financial affairs. This procedure is usually called a conservatorship proceeding. Different states have different terms for the person appointed to manage your finances, including conservator, guardian of the estate, committee, and curator.More... |
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| Estate-Tax Valuation -- Real Property |
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| The value of any real property as of a given date is subject to widely differing opinions. If there is no market for the property, it should be valued at (a) the highest price available, or (b) the amount it will bring as salvage, whichever is greater. More... |
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