Everyone talks about the weather, but no one does anything about it." Mark Twain. Likewise, people talk about plantation planning as well as trusts lawyers in Mesa az and know they have to do it, but according to the 2007 survey, 55% of Americans don't even have a simple will.
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1. This is not just about taxes. In 2008, everyone could get up to $ 2 million without paying federal plantation tax. These are moving targets and changes every year until 2011 when completed at $ 1 million. Of course, Congress can change that number.
2. Don't let the country tell you how to plan. If you die without plantation plans, your place of residence when your death must decide on who your assets go and how. This is called "intestacy."
3. Don't forget the children. In most states, you can nominate someone to become a guardian for your little ones. However, the nomination is done in your plantation plan, especially your will.
4. Protect your heir from creditors. If you leave an asset directly to your children, their creditors can attach the same assets as if they get it. If you leave assets in a trust, you can protect your children from the dangers of life, such as divorce, creditors, IRS, and other tax authorities, as well as other traps.
5. Protect your heir from themselves. Depending on your wishes, you can even put assets in the trust to protect them from their own recipients or themselves. Maybe your daughter is really bad with money.