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Inheritance also gets trickier if you have multiple family members who stand to benefit from receiving your assets.
How Will You Distribute Your Assets to Your Heirs (Equally vs.
I have seen how money can tear a family apart.
What Measures Are You Taking To Minimize Tax Liabilities?
Taking advantage of the gift limits can go a long way to transferring assets tax-free, Reder said.
Something else Reder said people underutilize regarding estate planning is 529 accounts.
This is anextremely tax-efficient wayto both fund education and also help with estate planning.
Are You Opting for a Will, a Trust or Both?
Trusts are your best bet to confirm that assets are transferred precisely as you intended, Reder said.
If you have less formal needs, Reder suggested a will as a good option.
Last Thoughts
It is important to keepboth wills and trustsup to date and aligned.
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