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June 2020 Archives

Choose the right trusts for your estate plan

One of the functions of your estate plan is to help provide for your loved ones as much as possible after your death. There are several elements to an estate plan that can do this. Two primary ones include your will and any trusts. When the estate plan goes through probate, the will is part of the record. Trusts move assets to the beneficiary without having to go through the probate court.

What is long-term planning?

Most individuals are generally familiar with what estate planning entails. It involves a person sitting down with an attorney to draft a will, power of attorney, health care directive or other legal documents. These guide your loved ones, doctors and financial institutions regarding your final wishes. A concept that you may not yet be familiar with is that of long-term care planning. It's a process through which you can decide how you want to be cared for as you age.

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