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Essay / Research Paper Abstract
This 22 page paper studies the importance of estate/will planning in personal finance. The writer discusses a number of personal issues including reasons for estate planning, procedures, and so forth. Legal issues, taxes, and other possible pitfalls are examined so that the reader will walk away with a more competent knowledge/understanding of estate planning as it relates to finance/law.Bibliography lists 10 sources.
Page Count:
22 pages (~225 words per page)
File: D0_Estatepl.rtf
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Unformatted sample text from the term paper:
must be planned for. This is because the process of willing or leaving, our possessions behind can get complicated and messy for those we have left behind. It is painful
enough to deal with the loss of the person you love without having to deal with unexpected taxes, deciding who gets what and having to face probate or other such
painful experiences. Every year, thousands of people die without a will. The primary reason is that they believe they will, and do, have plenty of time to deal with this
unpleasant task. In essence, they feel that they wont be dying any time soon. To many, this task ranks right up there with going to the dentist, paying the monthly
bills, or waiting in line at the bank. However, careful and thoughtful estate planning is critical and it is never too early to begin. According to most financial experts,
even when we do get around to it, many of us dont do a very good job of estate planning. Every year, hundreds of wills are declared invalid or become
the focus of bitter contests in probate court, usually because of errors in execution, or because of vague language, a lack of witnesses, or a failure to account fully for
all assets. A properly executed will should provide for the well-being of your heirs, and protect your assets from legal fees and estate taxes. But deciding whats right for
you is tricky and is also fraught with enormous risks. This is because investments you might have made such as IRAs, 401(k) plans and stocks will fall victim to estate
and other taxes when you die. If you dont get the help you need or guidance in learning about estate law and planning for your own estate, your heirs could
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