yandex watch
forex ask logo
forex ask banner
Welcome, Guest

Forgot Password

Not yet a Member? Register Here

Loader
Question Details
Username: ForexGuy

Rating:
Guru Stars

Asked to: Apinya Kamon

Date Created: 13 Jun 2016
Category 28
Tag Financial
Question What is 'Estate Planning'?
Advice from Guru
Hello ForexGuy,

Estate planning is the collection of preparation tasks that serve to manage an individual's asset base in the event of their incapacitation or death, including the bequest of assets to heirs and the settlement of estate taxes. Most estate plans are set up with the help of an attorney experienced in estate law.

Some of the major estate planning tasks include:

- Creating a will
- Limiting estate taxes by setting up trust accounts in the name of beneficiaries
- Establishing a guardian for living dependents
- Naming an executor of the estate to oversee the terms of the will
- Creating/updating beneficiaries on plans such as life insurance, IRAs and 401(k)s
- Setting up funeral arrangements
- Establishing annual gifting to reduce the taxable estate
- Setting up durable power of attorney (POA) to direct other assets and investments

List of Gurus

  • Guru Most read Heng Kim
    Heng Kim

    Hi PrettyWoman, The job market is the market in which employers search for

    Read more
  • Guru Most read Anton Luyten
    Anton Luyten

    Hello Fluffy, A harami cross is a Japanese candlestick pattern that consists

    Read more
  • Guru Most read Chaoxiang Lee
    Chaoxiang Lee

    Hi Maria, A caplet is a kind of call option based on interest rates. The

    Read more
  • Guru Most read Apinya Kamon
    Apinya Kamon

    Hello ForexGuy, A false market occurs when prices are manipulated and impacted

    Read more
  • Guru Most read Tom Burke
    Tom Burke

    Hello LuckyWoman, The yearly probability of living is determined by consulting

    Read more
  • Guru forex ask most-read Goro Yang
    Goro Yang

    Hello LuckyWoman, A monthly statistical report from the U.S. Federal Reserve

    Read more
  • Guru forex ask most-read Jacob Rogers
    Jacob Rogers

    Hello Fluffy, A market is a medium that allows buyers and sellers of a

    Read more
  • Guru forex ask most-read Jacob Rogers
    Jacob Rogers

    Hello Maria, A straddle is an options strategy in which the investor holds a

    Read more
  • Guru forex ask most-read Jacob Rogers
    Jacob Rogers

    Hello Maria, A kickback is the payment to a recipient as compensation or

    Read more
  • Guru forex ask most-read Goro Yang
    Goro Yang

    Hello LuckyWoman, The gearing ratio is a measure of financial leverage that

    Read more
  • Guru forex ask newest Heng Kim
    Heng Kim

    Hi PrettyWoman, The job market is the market in which employers search for

    Read more
  • Guru forex ask newest Anton Luyten
    Anton Luyten

    Hello Fluffy, A harami cross is a Japanese candlestick pattern that consists

    Read more
  • Guru forex ask newest Chaoxiang Lee
    Chaoxiang Lee

    Hi Maria, A caplet is a kind of call option based on interest rates. The

    Read more
  • Guru forex ask newest Apinya Kamon
    Apinya Kamon

    Hello ForexGuy, A false market occurs when prices are manipulated and impacted

    Read more
  • Guru forex ask newest Tom Burke
    Tom Burke

    Hello LuckyWoman, The yearly probability of living is determined by consulting

    Read more