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Ask Todd: Life Estates vs. Trusts; What You Don’t Know Can Cost You
On this week’s Ask Todd, Todd Lutsky explains why life estates can create serious tax, creditor, and control problems—and why an irrevocable trust is often the better solution for protecting your home.
He also answers listener questions on updating a revocable trust in your 90s, protecting rental property from the five-year lookback, and what happens when your assets grow beyond the Massachusetts estate tax exemption.
Download Todd’s free guide, The Calculating the Consequences of a Life Estate, to understand the risks before you sign anything.
The skinny
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