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A revocable living trust is another common type of trust,and is used in estate planning A trust allows an individual or household to designate somebody else,usually a trusted daughter or son,to transfer property after they pass away without the need for a court order Escondido Probate Law When you need a probate attorney call Escondido probate law.
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A properly drafted estate planning package avoids the long and costly legal process referred to as probate A Living Trust holds title to your assets and has a life of its own Escondido Probate Law A Grantor Retained Annuity Trust,or GRAT for brief,is an unique type of irrevocable trust that permits the Trustmaker/Grantor to gamble versus the odds and,if the Trustmaker/Grantor plays their cards right,then a considerable amount of wealth can be moved down to the next generation for essentially no estate or gift tax dollars.
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A CLUT is an irrevocable trust that may be developed by the donor either intervivos,or upon death,and which defines that a yearly “unitrust quantity” must be paid at least every year to charity till the termination of the specified term,at that point the trust assets pass to or in trust for the noncharitable recipients.
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