MNE3704 Assignment 5
(COMPLETE ANSWERS)
Semester 2 2023 - DUE 12
OCTOBER 2023
FOR MORE ASSISTANCE …GOODLUCK
What is estate planning, and what are the three processes that it involves? (4)
Estate planning refers to the process of arranging and managing an individual's assets and affairs
t...
MNE3704 Assignment 5
(COMPLETE ANSWERS)
Semester 2 2023 - DUE 12
OCTOBER 2023
WHATSAPP +254740539068 FOR MORE ASSISTANCE …GOODLUCK
What is estate planning, and what are the three processes that it involves? (4)
Estate planning refers to the process of arranging and managing an individual's assets and affairs
to ensure their smooth transfer and distribution upon their death or incapacitation. It involves
making decisions about how one's assets will be managed, who will inherit them, and how taxes
and other expenses will be paid.
The three main processes involved in estate planning are:
Creating a Will: A will is a legal document that outlines how a person's assets will be distributed
after their death. It allows individuals to specify their beneficiaries, appoint an executor to
manage the estate, and make provisions for minor children or dependents.
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