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Description of Estate Topics

A Comparison of Various Living Trusts
Due to the two drastic tax law changes in the last couple of years, it is necessary to review almost all trusts drafted in the past. A SUMMARY OF RECENT CHANGES IN ESTATE TAXES: *Tax repealed in 2010. *Top 55% rate immediately cut to 50%, eventually to 45%. *Individual exemption raised to $1 million in 2002, $1.5 million in 2004, $2 million in 2006, and $3.5 million in 2009. These changes should impact most trusts established in the last few decades

Some Questions For You To Consider
THE AGENT YOU CHOOSE: The most important decision for the Principal (one signing the health care directive) is to choose a trustworthy, reliable Agent. No matter what is written in a power of attorney, the Agent can effectively nullify everything you order the Agent to do under the health care powers. The biggest area of contention is found in Part 2.