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Estate
Planning Basics: Why Make a Plan?
Estate planning is something that most parents want to avoid, but it doesn’t have to be that way. Understanding how to make the most of your estate for your children can actually be interesting, and even fun, and it will give you peace of mind. Taking a few simple steps now will save your children thousands of dollars that they would otherwise have to spend later on estate taxes and lawyers’ fees. Wouldn’t you rather that they had that money? Both the Wills and Living Trusts that I prepare create tax-saving trusts that will allow you to pass up to $2 million tax-free per person (as of 2006) to your children and create a property management system to manage your children’s money until they’re well into adulthood and able to manage it on their own.
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