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Legal and Estate Planning
So, your relative is gone and you are now the Trustee of their (formerly) Revocable Living Trust. What do you do now? The very first step in the legal process is to obtain a Tax Identification Number (TIN) for the now Irrevocable Trust. Go here for that form. The estate planning segment of CCH Inc.'s comprehensive Financial Planning Toolkit is as good a place to start your consideration of this critically important personal finance topic as any. Offered free by a long standing provider of business, legal and tax information. The American College of Trust and Estate Counsel is a professional association of estate planning attorneys throughout the United States who have been elected to membership by their peers. The site contains a vast array of links and other resources. The National Association of Financial and Estate Planning has information for both professional and layman. Nolo, a leading legal publisher, provides a site offering articles on a wide variety of estate planning basics, including wills, probate, living trusts, estate and gift taxes, all written for the layman. Crash Course in Wills and Trusts was originally created for use in a local community college adult education class. Technical information provided in an easy-to-understand format. The site is offered by an estate planning attorney and certified financial planner (CFP). If you want to strike out on your own to do legal research on the Web, FindLaw's LawCrawler.com is a powerful vertical search engine.
In the sad event that you need to declare bankruptcy, will your
retirement assets be protected from creditors? How you title them may make a
difference.
Click here to read a relevant article from our friend Kevin Rack of The
Rack Law Firm.
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