Further, jointly owned property with another individual can make it subject to their creditors. Top This type of trust cannot be changed once executed. It is one form of planning that can be funded with life insurance proceeds. This trust will avoid both probate and estate taxes. The assets of this trust can be used as a refunding tool to provide for your family, if you designate your property to a charitable trust for tax purposes.
Life insurance serves many purposes in small to medium-sized estates.
Top A document that expresses your desire to be allowed to pass away with out the use of extraordinary means by way of artificial machines to sustain your life, when turning off the machines would allow you to pass away peacefully. There is no agent or advocate designated. This document designates a surrogate to make medical decisions on your behalf in the event that you are seriously injured or become seriously ill and cannot make your own medical decisions regarding your care. You can designate your spouse, and if your spouse were not able, then, you would inform the physician who would make the health care decisions. The attorney in fact is named to act on the clients behalf in connection with personal, business financial or other health care matters.