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July 2023
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6 Steps to Get Your Affairs in Order6/16/2023 Jon K. HancockHancock Advisors LLC
6 Steps to Get Your Affairs in Order It is certainly nobody’s idea of fun, but planning for the inevitable future is a worthwhile endeavor that gives you control over your legacy and eases the process for your loved ones who will settle your estate. It is crucial that your estate plan meets your state’s legal requirements. You can consult with an estate planning attorney to ensure that documents are correctly prepared, or as an alternative the site Trust & Will says “We’re here to help you through life’s most challenging moments with unlimited chat and technical support. Get personalized guidance when you choose a service-focused plan.”
What about a Trust? Trusts offer privacy, discretion over how assets are distributed, and potential estate tax benefits. Are you interested in reducing estate taxes? If so, an irrevocable trust might make sense. An irrevocable trust can be used to minimize the estate's worth for estate tax purposes. Irrevocable trusts can also aid in asset protection in court cases, in addition to estate tax reasons. You may also decide to create a living trust, which transfers your assets to your beneficiaries, maintains privacy, and avoids probate headaches
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