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Other assets may not need to go through probate, either. I need awesome attorneys estate by 92877. I am lookIng for awesome probate attorney near rego park, corona ca. You may hear the word “estate” and think of mansions and sprawling grounds, but you don’t have to be wealthy to have an estate. An estate consists of all the property a person owns, including real estate, cars, cash, and other assets. Anyone who wants their assets transferred to one or more surviving loved ones after they pass away should consider establishing a formal estate plan. I am looking for an ideal irrevocable life insurance trust attorney. Yes, Steve Bliss with Corona Probate Law offers the legal services with an achievable irrevocable life insurance trust attorney. I am lookIng for best probate attorneys by north coron, corona ca.a. I need brilliant attorneys estate by 92880. I need excellent estate attorney around rego park, corona ca. I am lookIng for best attorney estate by 92880. What is estate planning and why is it important? Estate planning is all about protecting your loved ones, which means in part giving them protection from the Internal Revenue Service (IRS). Essential to estate planning is transferring assets to heirs with an eye toward creating the smallest possible tax burden for them.
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A charitable trust described in Internal Revenue Code section 4947(a)(1) is a trust that is not tax-exempt, all of the unexpired interests of which are devoted to one or more charitable purposes, and for which a charitable contribution deduction was allowed under a specific section of the Internal Revenue Code. Consequently, a charitable trust is treated as a private foundation unless it meets the requirements for one of the exclusions that classify it as a public charity. Moreover, it is subject to the private foundation excise tax provisions and the other provisions that apply to exempt private foundations, including termination requirements and governing instrument requirements. However, a charitable trust is not treated as a charitable organization for purposes of exemption from tax. Accordingly, the trust is subject to the excise tax on its investment income under the rules that apply to taxable foundations rather than those that apply to tax-exempt foundations.
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