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It is quite common for people to want to attach conditions on an inheritance they leave to their children. You might, for example, be concerned about your child’s spending habits or a substance abuse problem. Adding conditions to your will and estate plan can help your kids use the money and assets they receive more responsibly.

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If your spouse is not a citizen of the United States, some special rules could affect your estate planning process. In general, you will proceed just as you would if your spouse was a legal citizen. The following are some estate planning matters all people should address, regardless of their citizen status:

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A charitable remainder trust is an excellent way to pass on assets from your estate to the charity of your choice, while also giving you and your beneficiaries a sizeable tax break. It’s an especially sound option for people who wish to make large donations to charities upon their death. However, you should keep in mind that a charitable remainder ...

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Advance directives are legal documents and tools that outline your wishes concerning the long-term medical care, particularly at the end of your life. These tools are especially useful in the following situations: You cannot make your own medical decisions You are in a state of terminal illness or incapacitation You meet certain other requirements as outlined in state law

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Establishing a durable power of attorney for finances is a straightforward and reliable way to arrange for someone to manage your finances in the event of your incapacitation. This designation will remove a significant amount of stress from your family members, who might otherwise be unable to maintain the financial affairs of your estate. Below is a general overview of ...

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Any property a person holds in joint tenancy automatically passes down to the surviving joint tenant(s) when one of those tenants passes away. This is referred to as a “right of survivorship,” and it’s the easiest way to transfer property that multiple people owned once they have all passed away. The right of survivorship is the principle that guides how ...

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As you work on your estate plan and begin to make plans for how you will pass down your real estate assets, you must consider the methods you will use to do so. Real estate could be the most valuable asset in your entire estate, which means surviving family members will have lots of interest in what will happen to ...

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If you are at all concerned about providing your loved ones with uninhibited access to an inherited individual retirement account (IRA), you may want to consider an IRA trust to alleviate those worries. In the past, IRA trusts were not very common. But a 2014 U.S. Supreme Court ruling has led to more financial advisors recommending their use to many ...

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No matter your level of income, having a comprehensive estate plan is one of the most important steps you can take to secure the future of your loved ones and your assets. However, even among high-net-worth families, studies show that nearly 40 percent have not engaged in sufficient financial and estate planning. It takes the assistance of a professional and ...

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