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The best gift you can give your loved ones is to make all of your necessary Estate Planning decisions for them and have your Estate Planning documents accurate, up-to-date, complete, and executed (i.e., Powers of Attorney and Agents, Living Wills and Surrogates, Last Wills and Executors, etc.). Unfortunately, to a great extent, misinformation about critical terms such as beneficiaries, heirs, inheritance, inheritance tax, estates, estate tax, probate, avoiding probate, small estates, simple wills, living wills, last wills, and living trusts (to name just a few), tends to lead to misunderstandings with Estate Planning. These misunderstandings, in turn, tend to lead to mistakes with Estate Planning. These mistakes, again, in turn, tend to lead to unintended results after one's death with respect to their Estate Planning. Estate Planning and Estate Administration are vital. Estate Planning involves the planning of one's affairs and final wishes during life. Estate Administration involves the settling of one's affairs after death. With respect to your affairs, please know and understand what you are doing and why you are doing it before you do it.
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