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The trustee,or trustees,will be responsible for controlling the trust and will also have authority over how the trust’s assets are handled.
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To cover all of the concerns that matter to you,you’ll most likely need two separate files: one that addresses health care issues and another to look after your financial resources As an outcome,numerous are choosing to sell business and live better at the end of life rather of passing the money on to beneficiaries who will simply blow it themselves steveblisslaw com Trust Lawyer.
The one thing you can not do,however,is move a policy owned by an ILIT into your very own names The Law Firm of Steven F.Bliss Esq.(951) 223-7000 Trust Lawyer The list invariably includes making it through spouses,your moms and dads,and your descendants- kids,grandchildren or great-grandchildren.
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In California,there is no particular statute for a Living Will,yet the legislation does allow naming a health care proxy the individual who will talk on your behalf- and there is nothing to prohibit developing a living will You manage the property the same as if it was still in your name (sell or mortgage it,for example),and may acquire more property and add it to the trust steveblisslaw com Trust Attorney.
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Typically,you need to provide the state court with the death certificate and the will,if there is one.
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