Wills & Trusts....what is the difference?
Wills:
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Have to go through Probate
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Can cost 3% or more of your total estate
• $100,000 house=$3,000 in attorney fees (minimum)
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Anyone can contest your will
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The probate process can take years to complete
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Probate court has the final say on how your assets are distributed, regardless of your wishes
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Your heirs may have to pay inheritance taxes on what you leave them
Trusts:
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Eliminates Probate
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Assets immediately pass to beneficiaries
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Eliminates/Reduces:IncomeTaxes, Capital Gains, Taxes, and Gift Taxes
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Not just for the rich. Most people need one!
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You are the captain of your ship!
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Less stress and work for family after you’re gone
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You have Trust options to take care of that special needs loved one, veteran or family member who relies on Medicare without them losing their benefits.
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You have 3 choices
1. Do Nothing...PROBATE
2. Create a Will...PROBATE
3. Place all your assets in a LIVING TRUST.... PEACE OF MIND