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Note that if you name yourself as a trustee,you should also choose an alternate trustee in case of your incapacitation or death steveblisslaw Estate Planning Lawyer While it might seem daunting to open an estate account,the process is actually quite straightforward.
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However is this actually a wise choice?

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Your estate plan should include provisions for any children,including naming a guardian for children under age 18 and providing for those from a previous marriage that might not be specifically addressed by leaving assets to a current spouse steveblisslaw Probate Lawyer San Diego Once you have these decisions made,all that’s left is the required paperwork and filing,which varies by state.

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State estate/inheritance taxes vary,but because they may use at a lower threshold,your estate might be exempt from federal tax and still need to pay a state tax.
You could naturally write a new will however if the majority of the details in the original will has not altered it is an unnecessary process Fiduciaries The Law Firm of Steven F.Bliss Esq.Estate Lawyer San Diego.
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It’s important to draft a durable power of attorney (POA) so an agent or a person you assign will act on your behalf when you are unable to do so yourself Living Trust Law (858) 278-2800 Probate Attorney San Diego In the end,even if you choose your kept income period sensibly based upon your existing health and expected future health,life is really unpredictable and can reverse even the best-laid plans.
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Healthcare Agent/Surrogate: This person will make decisions about your medical issues as you have actually composed in your Advance Medical Directive or your Durable Healthcare Power of Attorney

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