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A long as your premium payment follows the “gifting” guidelines,as explained below,there will be no gift taxes incurred by either you or your beneficiaries.
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A living will,also known as an advance directive,sets forth your wishes regarding what types of life-prolonging medical treatment you do,or do not,want in the event you become terminally ill or injured and are unable to communicate your wishes.
A monetary power of lawyer is a power of lawyer you prepare that offers somebody the authority to handle monetary transactions in your place.
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The 2nd file,called a living will,enables you to choose how you want to be dealt with if resuscitation or life assistance is needed.
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A minimum of one trustee should be designated to handle the trust,though several individuals or companies may be called all at once.
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