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Do you have a sound Will?
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<blockquote data-quote="TCRanch" data-source="post: 1283723" data-attributes="member: 24027"><p>Depending on the size of your estate & the fact you have children & quite possibly a substantial amount of land & cattle, you may want to consider a trust. As Tom mentioned, a will can be probated & contested by essentially anyone that believes they're entitled to a piece of the pie. A will is relatively inexpensive and a trust can be $$$$ but worth it; a well written trust can save thousands to hundreds of thousands in estate taxes & clearly documents who gets what, funds can be withheld until beneficiaries are a certain age & funds can also be distributed annually (again, avoiding tax consequences). While you're at it you may also want to consider a Power of Attorney, primarily for health care decisions, and is also a fairly simple document that can be found online.</p></blockquote><p></p>
[QUOTE="TCRanch, post: 1283723, member: 24027"] Depending on the size of your estate & the fact you have children & quite possibly a substantial amount of land & cattle, you may want to consider a trust. As Tom mentioned, a will can be probated & contested by essentially anyone that believes they're entitled to a piece of the pie. A will is relatively inexpensive and a trust can be $$$$ but worth it; a well written trust can save thousands to hundreds of thousands in estate taxes & clearly documents who gets what, funds can be withheld until beneficiaries are a certain age & funds can also be distributed annually (again, avoiding tax consequences). While you're at it you may also want to consider a Power of Attorney, primarily for health care decisions, and is also a fairly simple document that can be found online. [/QUOTE]
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Do you have a sound Will?
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