By Keith R Lyman
Rearranging your monetary priorities as you close to retirement? Have resources you need to move to others? beginning to observe it is time to get your monetary affairs so as? no matter what your cause, Alpha educate your self property making plans in 24 Hours makes it basic to get via this advanced yet crucial technique. The 24 classes during this step by step consultant hold you on target as you examine the easiest how one can deal with your property — one hour at a time.
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Additional info for Alpha Teach Yourself Estate Planning in 24 Hours
Now it’s time to see how much you have learned and retained from this lesson. Try to take the following quiz without referring back to the hourly materials. 1. When property escheats, it does what? a. It is destroyed. b. It passes to charity. c. It is subject to your will. d. It passes to the state. QUIZ HOUR’S UP! 03 4197-3 CH02 6/28/01 24 1:51 PM Page 24 Hour 2 2. Intestate succession refers to: a. The plan of distribution contained in your will b. The plan of distribution contained in state law c.
Try to take the following quiz without referring back to this hour’s materials. 1. The following is an important factor in the valuation of your estate: a. Historical returns on your investments b. Your current gross income c. Your itemized deductions d. Projected future value of your estate 2. One important reason to plan your estate is … a. To reduce current taxable income b. To determine the need for additional medical insurance c. To reduce inheritance and estate taxes d. Your attorney needs your business 3.
A person’s probate estate consists only of assets owned by the person that must pass through the probate court system to eventually reach the heirs. The assets included in this system include property that is … • Individually owned. • Owned jointly as tenants in common, which is property held by two or more owners without rights to survivorship. • An asset payable to no designated beneficiary. • An asset payable to the owner’s estate. You’ll read more about these various types of assets in subsequent hours.