24 Jan
2010
24 Jan
'10
8:40 p.m.
Chuck Guzis wrote:
On 23 Jan 2010 at 19:06, Dan Roganti wrote:
This sound like a very good option to use.
Thanks for the tip.
=Dan
http://www.vintagecomputer.net/ragooman/
From what I read, probate assets cannot be
transferred to heirs and
other beneficiaries (museum) until debts are settled.
Probate where there is no will can take a very long time (read:
years). Even with a will, probate can take months in some
jurisdictions.
The prudent thing to do as you settle into your golden years is to
transfer title to your assets to the person or entity that you
intend. Arrange a lease-back to you for, oh, $1 per year.
There are two immediate benefits--the first is that you get to take
the tax credit immediately if you're donating to a non-profit
501(c)3. The other is that once you depart to take your place at the
great abacus in the sky, there's no going through probate or any
question of title. The assets are not part of your estate.