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These trusts allow you to transfer ownership of your assets to the trust while still retaining possession and use of your assets while you're alive.

Perhaps you’ve heard the term “revocable living trust.” Its increasing popularity has made it a frequent topic of conversation among tax and estate planners. As daunting and complicated as the term may sound, the process of creating a revocable living trust is actually quite simple. This type of trust allows you to transfer ownership of your assets to the trust while still giving you the right to possess and use your assets while you’re living. Furthermore, these trusts enable you to ensure your estate does not pass through probate upon your death. It may sound crazy to most—give up ownership of all of your property? It’s really not as crazy as it may sound. Read on to find out why…

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Under the new rules, when a spouse dies, the executor files an estate-tax return, which preserves the value of that spouse's $5 million exemption.

Many people avoid the estate planning discussion for a variety of reasons—no one wants to think about dying, many are reluctant to analyze personal financials and assets, and with so many changes scheduled to occur in early 2013, why not just wait? The excuses are never-ending. The bottom line is that at some point we will pass away, and at that time, what will happen to your estate? What are the estate-tax consequences of passing your assets to your loved ones?

Today’s post highlights a way that couples can maximize federal estate-tax savings without costly predeath estate planning. The IRS issued guidance in June for an estate-tax law that Congress passed in late 2010.

The Problem
Currently, an individual’s estate is exempt from…

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Trusts can be an important estate planning and asset management tool that can be used by any individual who is seeking to maximize asset protection.

Not Just a Tool For the Wealthy
One common estate planning misconception about trusts is that they are instruments used by and designed only for wealthy folks. While commonly used by wealthy individuals, trusts can be an important estate planning and asset management tool that can be used by any individual who is seeking to maximize asset protection and minimize estate taxes. Depending on your objectives, a trust can be one of the simplest ways to ensure your estate, no matter what size, is properly distributed according to your wishes. Today’s article will focus on some common types of trusts and the estate planning basics of each.

Trusts For Estate Planning
I’ll begin today’s post by revisiting some of the basic concepts of…

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