Personal Finance (6th Edition) (Pearson Series in Finance)
Personal Finance (6th Edition) (Pearson Series in Finance)
6th Edition
ISBN: 9780134082561
Author: Jeff Madura
Publisher: PEARSON
Question
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Chapter 20, Problem 1RQ
Summary Introduction

To discuss: The term estate, estate planning and important goals of estate planning.

Expert Solution & Answer
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Explanation of Solution

The term estate signifies an individual’s assets after any prevailing liabilities are set off. Estate planning is a process of planning how a person’s wealth should be distributed upon or beforehand demise. The estate planning’s important goal is to reduce taxes on assets person’s desires to transmit to the recipients.

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