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A. Neither resolves all

A. Neither document resolves all your affairs

Be realistic; when a person dies, certain matters have to be taken care of by somebody – lawyer or not – whether there’s a Will, Trust or neither one. First, there is the funeral. Then, bills have to be paid; personal business and insurance matters must be concluded. Final personal income tax and inheritance tax returns must be filed, as well as a federal estate tax return, if necessary. The dwelling might have to be vacated. All sorts of property must be accounted for, secured, divided appropriately and formally transferred as required. None of these chores can be avoided. A certain amount of time -free or paid – is inevitably involved. Obviously, leaving all these details to an attorney can be expensive, but it is usually not necessary if the Executor and heirs can help.

Whatever your choice, here are some things to consider in comparing the Will and the simple living Trust:

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