would you mind rephrasing that?
I think I get it but maybe another example? Who is the administrator? Is
a living will in this case a "trust" ?
Cheers,
Erika
-----Original Message-----
From: Doug White [mailto:[EMAIL PROTECTED]
Sent: Wednesday, January 21, 2004 10:54 AM
To: CF-Community
Subject: Re: dumb question about the estate tax
Estate taxes on the Federal level are actually confiscatory. The
recommended
solution from my own financial advisor was to establish a "Living Will"
and
appoint a conservator ( Me) while still living.
Provided in that document was the transfer of all the assets of the
estate
without going through probate, prior to death with the provision that
while
alive I retain full control. In this way I no longer "own" the assets,
for tax
purposes and all that is done at death is to pass control to the second
administrator. The second administrator does not even have to know of
their
appointment until the "Open in the event of death." envelope is opened
which
contains the signed document assigning the title. They have the power to
then
liquidate and distribute the assets according to the living will, thus
avoiding
estate and probate costs.
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