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Just bear in mind that if you die within 3 years of making the transfer,the IRS will consist of the policy in your estate for estate tax functions The living trust would then be transferred to your designated trustee who would provide for your care utilizing the funds in the trust The Law Firm of Steven F.Bliss Esq.San Diego Probate Lawyer.
This indicates that if the successors turn around and offer the house after the maintained income period ends,then they will owe capital gains taxes based on the distinction in between your earnings tax basis at the time of the gift into the QPRT and the price for which the home is offered steveblisslaw com (858) 278-2800 Estate Planning Attorney Who should function as our Trustee?.
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A trust administration is NOT a court-supervised process yet its ultimate goal is also the transfer of property from an individual who has died (the �decedent�) to that individual�s beneficiaries who are identified in his/her revocable living trust

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