A family member or close friend who is concerned about the mental and/or physical capacity of a loved one may decide to seek a formal appointment as the person’s conservator or guardian.
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Estate planning is not a one-size-fits-all type of process. The path taken depends on the amount of assets in the estate, the goals for the estate and the complexity of relationships within the family.
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Trusts are created to give legal protection for a person’s assets, to make sure those assets are distributed according to that person’s wishes and to save time, and in some cases avoid or reduce inheritance or estate taxes.
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