The largest deduction that can be taken for qualified, long-term care insurance premiums paid in 2005 will be: Contracts or under Certain Life Insurance Contracts. My parents went through the list, and came up with safety deposit boxes, insurance policies (all kinds, like home, car, health, long-term care, etc), social security, credit cards, liabilities, you name it. Because a trust is not filed in court, its provisions are private, unlike a Will, which must be filed in court at death.

There are two basic types of estate plans: will-based and trust-based plans; a well-thought-out estate plan often consists of both. She is single and… This is the end of my second year of blogging. Attorney Natasha Hazlett Explains Wills, Trusts, Powers of Attorney and Probate in Idaho Thanks for stopping by the Boise Estate Planning Lawyer Blog! For some reason -- perhaps in partial payment of restitution for her daughter -- Ms. Life insurance and annuities are usually payable to a named beneficiary.

The act also clarifies what occurs to proceedings that affect trusts when a transfer of venue or recusal of a probate judge is ordered. These trusts can maintain privacy, reduce expenses and streamline the administration of assets. The flexibility afforded a trustee can be greater and involve less problems than the durable power of attorney. See also Questions & Answers About Estate Planning. A will is a legal document that, at the time of your death, allows you to distribute any property that is not within a trust.