#1: Estate Planning
a) It preserves an estate for the benefit of heirs.
b) Maintains and controls the distribution of assets.
c) Helps one to avoid probate by protecting your privacy.
d) Provides a plan on how estate taxes would be paid and helps beneficiaries to cover future and im...
a) It preserves an estate for the benefit of heirs.
b) Maintains and controls the distribution of assets.
c) Helps one to avoid probate by protecting your privacy.
d) Provides a plan on how estate taxes would be paid and helps beneficiaries to cover future
and immediate needs.
e) Reduces or eliminates estate taxes.
f) Identifies an individual or entity to manage and control estate assets
Proper estate planning helps and preserves the estate for the benefit of heirs thus having a
positive financial impact since the plan outlines clearly on the distribution of assets to cover
future and immediate needs. For instance, if there isn’t a proper plan there might be family issues
in court corridors seeking to own and control the estate which essentially take a huge amount of
money in settling down court case. In essence, the presence of an estate plan helps a family to
have control over assets and to ensure that all stakeholders benefit financially.
#2: Types of Trusts
The following are factors considered when setting up a trust for a beneficiary:
a) Consider what your assets are; make a list of all of your assets such as cash, investment,
vehicles and any other personal possession.
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