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Charles came into the office to start his estate planning. Charles was a widow and had no children. The bulk of his estate was going to three nieces. Charles had in excess of $750,000, and he wanted to ensure that when he died, his money went to his nieces quickly and avoided probate.
He heard a living trust was the way to do that. When he came in to the office he discovered issues and options he had not previously thought about. Specifically, he liked the option to ensure that when he passed, rather than leaving his assets to his nieces outright, he could give it to them in a protected trust that permits them to access to it for the rest of their lives, but not their creditors, spouses in divorce, nursing homes, the government, or lawsuits.
Click to learn what could go wrong, and how to avoid it!
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