Do you need a living trust if you only have one child?
Your estate plan is entirely your decision, and you are free to leave your assets to others, such as other family members, friends, or charitable organizations, should you choose. If you do wish to leave something to your child but are concerned about their ability to manage it, a trust can be an excellent solution.
Do you need a trust if you have only one child?
People with fewer assets, a modest estate, or just a relatively simple estate distribution plan most likely dont need a living trust, which, incidentally, generally has more upfront costs than writing a willand that may also be a consideration in deciding whether you need to include a living trust in your estate plan
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Sep 16, 2013 In Revenue Ruling 5866, 19581 C.B. 60, the Inter- nal Revenue Service determined the status of individuals living in a common-law marriage for
It is a way to use property for the protection of the spouse and family during their life- time and then pass the unused portion on to the children at death.
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