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How do I legally ensure fair asset distribution among my heirs?
February 14, 2024
|Mint Mumbai
How can I legally ensure that fair asset distribution happens among heirs, minimize disputes, and optimize tax efficiency? How do tools like trusts and powers of attorney facilitate this process?
In estate planning, individuals employ various legal mechanisms to ensure fair asset distribution among heirs, minimize disputes, and optimize tax efficiency. One crucial tool in this process is the establishment of trusts. Trusts enable individuals to transfer assets to a separate legal entity managed by a trustee for the benefit of beneficiaries. By creating trusts, individuals can specify how and when their assets are distributed, ensuring precise execution of their wishes.
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