Choosing a Fiduciary-Part II of II

As you are choosing a fiduciary, it is also important to name successor fiduciaries. What if the executor or trustee you choose is unable or unwilling to serve when the time comes? What if that person is sick, deceased or incapacitated when it comes time for them to serve? What if they move far away, making it difficult to perform important duties?

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Choosing a Fiduciary-Part I of II

Good estate planning requires serious thought when making "fiduciary" (e.g., power of attorney, executor, and trustee) appointments. Black's Law Dictionary describes a fiduciary relationship as "one founded on trust or confidence reposed by one person in the integrity and fidelity of another."  These appointments will dictate who controls, manages and distributes your assets when you are incapacitated or have passed away.

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The IRS is on the hunt. Are you a target?

If one thinks the IRS has nothing to do at the estate and gift tax division (because of the increased estate and gift tax exemptions to $5.0 million), think again. 

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