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THE LEAD UE O F W O MEN VO T ERS OF EAST NASSAU www.lwvofeastnassau.org info lwvofeastnassau.org At local, state and national levels the League works to influence public policy through education and
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How to fill out wills trusts and estate
How to fill out wills trusts and estate:
01
Start by gathering all the necessary information and documents. This includes personal details, assets and liabilities, beneficiaries, and any specific instructions or wishes you may have.
02
Consider consulting with an attorney specializing in estate planning. They can provide guidance and ensure all legal requirements are met.
03
Determine the beneficiaries and their respective shares. This will involve deciding who will inherit your assets and in what proportions.
04
Name an executor or trustee who will be responsible for carrying out your wishes as outlined in the will or trust.
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Review your financial situation and consider any tax implications. It's important to maximize your tax benefits and minimize any potential liabilities.
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Sign and date your will or trust, and have it witnessed or notarized according to your jurisdiction's requirements.
Who needs wills trusts and estate:
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Individuals who have accumulated assets and want to ensure their distribution according to their wishes after they pass away.
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Parents or guardians who want to establish a trust to provide for their children's care and financial needs in case of their untimely death.
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Individuals who want to minimize potential estate taxes and ensure their assets are protected from creditors or legal disputes.
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Business owners who want to have a plan in place for the smooth transition or succession of their company upon their death.
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Anyone who wants to ensure their healthcare and financial decisions are carried out in accordance with their wishes if they become incapacitated.
Note: It is essential to consult with a qualified estate planning professional to tailor the process and documents to your specific needs and jurisdiction.
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