Essays on Estate Planning

In the present paper the first question that will be addressed reflects on the three major objectives of Estate Planning: asset protection, wealth accumulation and wealth distribution. Each of the aspects will be dwelt upon separately as it pertains to the situation in which Barry as a single parent with two children aged 7 and 8 years old respectively has found himself in. In other words, estate planning will be considered in the context of its relevance to this particular complex life situation. First of all, it can be said that Barry does really need to do some estate ...

I. Introduction: Estate Planning As the saying goes, nothing is more certain in life than death. As many lawyers are trained, if you know that an event will happen, it is best to prepare for that event in order to put yourself in the best possible situation to take advantage of circumstances when the event occurs. The law’s response to effectively preparing for the ultimate eventuality is known as estate planning. Estate planning, in essence, is the process and procedures performed by an individual to arrange for the transfer of their “estate” in anticipation of death or incapacity ( ...

Tax planning for retirees is no different than the non-retiree tax payers. Rather, the tax planning activity of the retirees is more cumbersome because of they often receive their income from social security benefits, pension funds, annuities and other investment plans, which tend to make payout to the insured person once they reach their retirement age. Therefore, it is important that the rather than waiting for the retirement age, the retirees should plan their tax payouts beforehand so that they can save money on taxes and help them protect their retirement income stream. Henceforth, an individual must understand the ...

Personal finance plan

I am a college student pursuing my first degree in a public university. I live off-campus with a friend where we pay 100 dollars per month for rent. The rent is split between both of us. Therefore, I pay 50 dollars per month. One of the major short term goals I have is to graduate. I plan to graduate in the next one year. My other short term goal is to enroll in a master’s program within a year of graduating. Enrolling in a master’s program will require me to work as I study since I will ...

Question one

Valuers undergo many challenges related to physical, economic and practical factors while determining market rents for commercial properties. Market rent refers to the estimated cost of leasing a real property on the valuation date between a willing lessor and willing lessee following the laid down lease terms (RICS, 2014). Property valuers are among the major emerging global professionals requiring extensive knowledge and skills on real estate management. Moreover, property valuation heart of real estate management. Most nations follow international valuation standards in order to avoid conflicts that arise between the valuer and the client, or the real estate ...

As an alumnus of Babson College’s undergraduate program, I was able to leverage my business education and knowledge upon graduation into a management consultant’s position. My experiences at Babson gave me a strong business foundation that was critical for me to be a successful manager and leader. For the first ten years of my career, I engaged in and led a variety of consulting projects in a broad range of fields such as: strategy development, market analyses, organization redesign, executive coaching and business development. We quickly grew from a seven member consulting firm with less than $1.0M in sales to over sixty consultants and $ ...

Personal financial planning is a process of setting financial goals based on your current financial situation and prospect, most importantly future prospects. It is a matter of asking yourself these questions, financially, where do I want to be, when do I want to be there, and how will I get there based on where I am now. Because this is a process certain parameters must be looked into keenly and carefully before one thinks of coming up with a financial plan (Charupat, Huang and Milevsky, 2012). One, your personal financial plan should be based on the financial resources that one currently has at ...

Executive Summary 3

Overview of Current Situation 3 Summary of Needs and Objectives 4 Summary of Recommendations 4 Summary of Expected Outcomes 4 Important Information 5 1.0 Objective 6 2.0 Current Situation 6 2.1 How to get there 7 3.0 Recommendation 1 9 3.1 What is Salary Sacrifice? 9 3.2 Steps 9 3.3 Benefits of the Recommendation 11 3.4 Risk Associated with the Recommendation 13 4.0 Recommendation 2 14 4.1 Steps 15 4.2 Benefits of the Recommendation 15 4.3 Risk Associated with the Recommendation 15 ...

Personal Finance

Personal Financial Plan Introduction A person’s financial success is determined by his ability to allocate and utilize his own financial resources. Planning is an integral part of every person’s future aspirations for a better life even retirement. However, financial planning is not as simple as outlining the current personal assets versus liabilities because similar to business financial planning it also considers both external and external environmental attributions. Internal factors vary from risk tolerance, projected financial situation, discipline, goals, spending, saving and investment patterns and consumption. On the other hand, external factors include social, legal, political, taxation ...

Introduction

Estate planning is a field of study that involves the planning of a person’s current and incurrent life. A legal process is substantial for the future. Estate planning goes a long way into defining and informing people of their rights on property acquisition. It is a broad subject that gets narrowed down by legal process. Estate planning involves two persons, normally the wife and the husband (Nissley, 2011). The two come together and have to seek legal procedures and means for their future. This normally happens after they acquire the marriage certificate and have or share a home. It normally incudes a written and ...

Executive Summary

Real estate management has traditionally played a major, albeit little appreciated, role in all organisations. With escalating real estate prices in most world economies, the role played by this department should be even more pronounced. This should be especially so in light of the fact that but for personnel, no other factor is costlier than real estate. From the aforesaid, it is a cinch that proper management of real estate with a view to reducing costs can and should lead to significant reduction of operating costs of a firm. Non-profit organisations are especially under pressure owing to their unique sources of revenue. ...

The estate plan is intended to reduce the amount of both federal and state tax payable on the gross estate of the clients. The estate plan seeks to develop efficient gifting plans by the clients to specific beneficiaries and effectively reduce the amount of tax that is payable from the gifting plans to the minimum. The estate plan should enable Rich distribute his estate to all his beneficiaries without any conflict of interest arising from the remarriage of his wife after his death. The estate plan seeks to revise the client’s will to be more effective and ...