If you use a last will to state your final wishes regarding the distribution of your personally held resources, you would be allowing for lump sum distributions to the inheritors. This can potentially be disconcerting if you have someone on your inheritance list who is not a good money manager. People who are prone to overspending are typically going to need financial assistance from time to time throughout their lives. A spendthrift family member could experience future hardships after squandering his or her inheritance too quickly.
Topics covered in this report include:
- Wills vs. Revocable Living Trusts
- Asset Protection and Estate Tax Efficiency
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Attorney at German Law
Raymond J. German provides a wide range of estate planning services to his clients, with a primary focus on creating peace of mind providing for the security of their loved ones, reducing taxes and avoiding a probate, all with a well-crafted estate plan. Mr. German defines the mission statement for German Law as “Helping one family at a time pass on values, beliefs and finances, that can be shared for generations to come.”
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