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Your Trustee might also manage such administrative responsibilities as the yearly notification to your beneficiaries (called a “Crummey Letter”),and the filing of the ILIT’s income tax return,if necessary.
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A Trust is being challenged as to validity,capacity,fraud,or undue influence The Law Firm of Steven F.Bliss Esq.43920 Margarita Rd ste f,Temecula,CA 92592 Estate Planning Attorney For example,if you’ve already named your sister as a beneficiary on a retirement account or insurance policy (assets that typically pass outside of a will to a named beneficiary),you don’t want to bequeath the same asset to a second cousin in the will because it could lead to a will contest.
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The first is typically called a Healthcare Power of Attorney or Health Care Proxy and it allows you to specify who will make decisions in your place in case of a medical emergency situation The Law Firm of Steven F.Bliss Esq.Trust Lawyer If you have an account on this site,or have left comments,you can request to receive an exported file of the personal data we hold about you,including any data you have provided to us.
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Your Trustee will follow your directions,as you’ve at first set forth in the ILIT’s files.
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