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The time that the trustee has control within the trust fund is prearranged. Once this moment has lapsed, the fund is then turned to the site a designated person. This designated person is not necessarily the beneficiary, it can be anybody. For example, say you for you to put your niece through business school, and will gladly cash tuition. Can easily set up a trust fund that will pay the faculty bills until she has completed the classroom. Once she has earned the degree, the trust fund money can then be designated to be dispersed between the children.
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An estate planning professional can also assist or help which plan the estate carefully and smartly. To find a qualified estate planner, check with state or local bar association of a local Certified estate planning attorney, or try the state CPA association. NAEPC offers a associated with members who've earned the special designations AEP (Accredited Estate Planner) and EPLS (Estate Planner Law Specialist).
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