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Financial planning vehicle

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beinnet

Junior Member
What is the appropriate vehicle for five children to protect their mothers' assets while also protecting ourselves from incurring her debt upon her death? The situation, mother had no health insurance, has hefty medical bills (60K), has a little bit of a 401k that is her income besides social security. Her 401K is still in the market (TIAA/Cref) and estimated at about 80,000 before the recent market turmoil. Specifically, we are hoping to help her manage her finances more closely than before. Should it be a trust or an LLC or other? If it is a trust what kind of trust would it be?

Sincerely,

Kristen B.What is the name of your state (only U.S. law)?
 



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