Estate Planning-fake student id

 

estate planning: an overview

Estate planning is the process by which an individual or family arranges the transfer of assets in anticipation of death. An estate plan aims to preserve the maximum amount of wealth possible for the intended beneficiaries and flexibility for the individual prior to death. A major concern for drafters of estate plans is federal and state tax law.

An estate is the total property, real and personal, owned by an individual prior to distribution through a trust or will. Real property is real estate and personal property includes everything else, for example cars, household items, and bank accounts. Estate planning distributes the real and personal property to an individual's heirs.

Wills and trusts are common ways in which individuals dispose of their wealth. (See ). Trusts, unlike wills, have the benefit of avoiding probate, a lengthy and costly legal process that oversees the transfer of assets. Sometimes, though, it will be useful to make inter vivos gifts (gifts made while the donor is alive) in order to minimize taxes. The exempts certain levels of lifetime gifts. (See )

menu of sources

Federal Material

U.S. Constitution and Federal Statutes

  • U.S. Code: - Federal Estate Gift Tax

Federal Agency Regulations

  • Code of Federal Regulations: - Estate (part 20) and Gift (part 25) Taxes

Federal Judicial Decisions

  • U.S. Supreme Court:
  • US Circuit Courts of Appeals:

State Material-fake student id

State Statutes

  • Uniform Laws:
    • Uniform Fiduciaries Act
  • State Statutes Dealing with:

State Judicial Decisions

  • N.Y. Court of Appeals:

Other References

Key Internet Sources

  • (Section on Real Property, Probate & Trusts)
  •  (Nolo)

Online Use by Attorney

Useful Offnet (or Subscription - $) Sources

  • Good Starting Point in Print:
    • John K. McNulty, , West Group (2003)
    • Robert J. Lynn, , West Group (2004)

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