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You discover that the estate is insolvent,that is,there is not enough money in the estate to pay all the debts,taxes and expenses Helping with activities of daily livingPreparing meals steveblisslaw com The significant loss of one’s estate to the payment of state and/or federal estate taxes or state inheritance taxes is a great motivator for many people to put an estate plan together.

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If you or your partner are an insured of a life insurance coverage policy that is owned by an ILIT,and you also function as the Trustee of the ILIT,then the IRS may choose that the policy hasn’t left your estate after all

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While no one likes to think about their own death,planning for its legal and financial aspects gives important guidance and peace of mind to your loved ones In these states even if you call your partner in a will and do not leave the spouse anything or set up a revocable living trust and leave the spouse out of it does not necessarily suggest the partner will not get any of the estate steveblisslaw com Estate Planning Lawyer.
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