Watch Out for These Potential Problems with Life Estates

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Life estates can be an excellent tool for Medicaid planning, probate avoidance and tax efficiency, but there are potential problems to look out for. Knowing the implications and risks of a life estate is essential in determining whether it is appropriate for your situation.

The Hazards of Do-it-Yourself Estate Planning

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Many websites offer customized, do-it-yourself wills and other estate planning documents, but although these products are convenient, using them could cause serious and expensive legal problems for heirs.