What is an irrevocable living trust?
Answer to relevant QuestionsWhat is a standard family trust? Give an illustration. What is a durable power of attorney for health care? Why is it needed even if you have a living will? When would you change your will? How can your will be changed? How would your advice in questions 1 and 2 change if Brad was 40 years old? Discuss how managing liquidity fits into your financial plan. What is the liquidity trade off?
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