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A Grantor Retained Annuity Trust,or GRAT for brief,is an unique type of irrevocable trust that permits the Trustmaker/Grantor to gamble versus the odds and,if the Trustmaker/Grantor plays their cards right,then a considerable amount of wealth can be moved down to the next generation for essentially no estate or gift tax dollars Escondido probate law probate attorney Ordinary,or “nondurable,” powers of Attorney automatically end if the individual who makes them loses mental capacity.
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A CLAT is an irreversible trust that might be developed by a donor either intervivos,or upon death,and which specifies that an annual fixed dollar quantity should be paid at least each year to charity until the termination of the defined term,at that point the trust properties pass to,or in trust,for the noncharitable receivers.
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A trust allows an individual or household to designate somebody else,usually a trusted daughter or son,to transfer property after they pass away without the need for a court order.
A properly drafted estate planning package avoids the long and costly legal process referred to as probate A comprehensive estate plan should consider what happens in the event of both death and disability Escondido probate law A number of companies use a big variety of services depending on your household’s needs.
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