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A properly drafted estate planning package avoids the long and costly legal process referred to as probate coronaprobatelaw com corona probate attorney A living trust is a separate legal entity and has full legal authority on its own and thus can avoid the probate system entirely,can manage all of your estate distribution and management desires,can accomplish substantial savings on estate taxes,and can remain totally private so that no one knows your business except those persons that you want to have knowledge of your personal and financial affairs.
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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 A key component of estate planning involves protecting your assets for heirs and your charitable legacy by minimizing expenses,and covering estate taxes while still meeting your goals corona probate law A last will and testament takes care of any property that must be probated.
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