Last Will And Testament Attorney - Make A Last Will And Testament Affordable

1. Last Will And Testament Attorney - Make A Last Will And Testament Affordable A Last Will and Testament Attorney can prepare a power of appointment for you. Simply put, a power of appointment is a power to dispose of property. The Last Will and Testament Lawyer explains that the power can be as broad or as limited as its creator desires. Skillfully employed, a power of appointment can be an invaluable tool in estate planning. The Last Will and Testament Attorney explains that you must be aware, however, of the possibility of adverse tax consequences of a power of appointment if the power is inappropriately drafted. A power of appointment can be used to accomplish many objectives, explains the Last Will and Testament Lawyer including the following: 1) To enable the done to make a decision about the ultimate disposition of the property subject to the power, so that the beneficiaries' current needs and circumstances (relating to, e.g., marriage, divorce, financial status, lifestyle) can be taken into consideration when the power is ready for exercise. Another item that can be accomplished explains the Last Will and Testament Attorney is to allow the donee to accomplish his or her own dispositive objectives as opposed to those of the creator of the power. Yet another reason elaborates the Last Will and Testament Lawyer is to save taxes or to secure a tax objective achieved by the existence of the power. For example, explains the Last Will and Testament Attorney is to take advantage of the graduated estate tax scale after 2012 and credits available in the estate tax system that are not available in the generation-skipping transfer (GST) tax system. A power of appointment for a non-skip person donee may be used to convert a GST tax into an estate tax. The power of appointment states the Last Will and Testament Attorney may be used to extend the termination date of a trust so that the trust assets are exempt from GST tax and estate tax for as long as they remain in the trust. A very powerful reason explains the Last Will and Testament Lawyer to use the power of appointment is to give the surviving spouse a general power of appointment over the trust property as necessary to qualify the trust for the marital deduction.