The debate in lots of estate planning circles today is the will
vs. living trust saga. It is actually a legitimate debate. There are lots of will vs. trust issues that are big among the lawyers, but the public is really confused.
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Probate of a will historically has been a deep hole that families found themselves in when a family member died. If you only have a will, it must be probated. Probate is the process where the court determines who has the rights to a deceased person’s property.
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One of the areas in the law that is becoming critical to your financial survival is protection of assets. Asset protection is a wide body of law. It includes tax laws, business structuring, estate planning, and law suit protection.
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Revocable and Irrevocable Trusts and which to use in Estate Planning and Asset Protection.
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The Bush Tax Cuts are scheduled to expire at the end of 2012, and it’s the middle class that is going to be hurt. The return of the marriage penalty is only one of the below the belt hits solid Americans are going to get.
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LLC creation, the first question to ask is this the best entity for my business? If you don’t know which entity to use, the choices are sole proprietor, partnership, limited partnership, corporation (C or S), and limited liability company (LLC).
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Sole Proprietorship Tax Advantages.
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