Trusts, Gifts and Estates term paper (ANY TOPIC!!)

Trusts, Gifts and Estates term paper (ANY TOPIC!!) Essay example
Masters
Essay
Finance & Accounting
Pages 10 (2510 words)
Download 0
Revocable Living Trust vs. Last Will and Testament It is imperative for most people to have some form of estate planning or estate administration in place because it provides security for them and their families. It is one of the important decisions that transfer wealth and assets to others such as family members, relatives, friends and charities…

Introduction

This results to the preservation of a harmonious familial relationship and the achievement of several financial benefits such as the creation of cash reserves and the after-tax income available. According to Brown and Myers (2008), it is important to underscore that the primary objective of all family estate planning is to provide psychological and financial security by obtaining “the maximum benefits of principal and income for the family and to pass on the family property intact (i.e. without losses)” (23). The last will and testament is an excellent example of estate planning and administration. There is also the case the revocable living trust. Both of these are popular choices for people seeking to manage and administer their assets and properties. This paper will explore why the revocable living trust can prove to be more beneficial for everyone than the last will and testament. Background The last will and testament or more generally known as the will is a legal document that provides the disposition of assets and properties. Simply put, in case of death, the ownership of a property is transferred according to the terms of the will of the deceased, the terms that document his desires particularly in the distribution of his estate and assets (Wardle and Nolan, 1042). ...
Download paper
Not exactly what you need?

Related papers

Term Paper on the Segregation of Duties: IT Audit
If ?you were an IT Auditor in an organization, what type of business risks would you consider? What ?type of control mechanisms would you put in place for more efficient audit procedures? Explain its ?relevance from every perspective. I. Introduction Challenges in IT are becoming ever more complicated. Segregation of duties— also known as SOD—is paramount in today’s information technology…
Term paper on Capital market efficiency
In addition, reference is made to market ethics, at the level that ethics can secure, at least up to a level, market efficiency, being related to all three aspects of market efficiency, i.e. information, institutions and transactions. The literature developed in this field proves that existing research in regard to market risks and potentials focuses on the potentials of markets to become…
Term Paper Topic Should Address Some Aspect of Corporate Finance
Most public firms publish financial statements each trimester. Ever since the creation of the Sarbanes Oxley Act the financial statements of public firms must be audited by an independent auditor. This act also raised the accountability of the statements by making the executive officers including the CEO liable in case of fraud. The income statement is a financial report that analyses the…
Term Paper _Cost Accounting
In this novel the authors have used their creativity to talk about the managerial issues faced by employees in the western working environment and the possible repercussions of the prevalent state of affairs that are required to be addressed on immediate basis in the corporate sector before it’s all too late. Theory of Constraints The authors add the element of surprise and interest in the story…
Personal Plan Finance and Accounting Term Paper
50 50 50 50 50 50 50 50 50 50 50 50 Entertainment 100 100 100 100 100 100 100 100 100 100 100 100 Total Expenses 3195 3195 3195 3195 3195 3195 3195 3195 3195 3195 3195 3195 Savings 278 556 835 1113 1391 1669 1947 2226 2504 2782 3060 3338 Based on this monthly budget I will save a total of $278 per month. At the end of the year I will have $3,338 in savings. The highest expense in my budget is the…
Solyndra Solar Term Paper
Meanwhile, the program intends to create over 60,000 jobs for the citizens and remains the significant source of jobs for thousands of people. Despite the current bankruptcy, the program is facing, the administration claims that its investment portfolio is still effective and productive. Meanwhile, the Solyndra issues post criticism about the suitability of government in the process of funding…
Term paper for 1500 words
The National Broadband Network (NBN) represents the future generation of infrastructure and mode of communication. In the 21st century, the world is advancing at a rapid pace and Australia is also taking part in these technological advancements. According to the Prime Minister of the country, a slow internet connection is one major hindrance in the path of growth. Economic activities are highly…