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A trust is created when residential or commercial property (realty,financial resources,concrete products) is handled by an individual for another individual’s advantage A vital part of sensible estate planning is deciding not only who our beneficiaries will be,but likewise how,when,and why they will get our tradition coronaprobatelaw com A last will and testament takes care of any property that must be probated.
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A living trust is a separate legal entity and has full legal authority on its own and thus can avoid the probate system entirely,can manage all of your estate distribution and management desires,can accomplish substantial savings on estate taxes,and can remain totally private so that no one knows your business except those persons that you want to have knowledge of your personal and financial affairs.
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Bequest,the all out probate expense for administrations would be $13,000.