Questions from Personal Finance


Q: What is probate? Describe the probate process.

What is probate? Describe the probate process.

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Q: Discuss estate taxes. When is an estate subject to and not

Discuss estate taxes. When is an estate subject to and not subject to estate taxes? What is the top federal estate tax rate? What other taxes may be levied against an estate?

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Q: Why is it important to calculate the value of your estate periodically

Why is it important to calculate the value of your estate periodically?

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Q: What is a trust? What is the difference between a living

What is a trust? What is the difference between a living trust and a testamentary trust?

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Q: What is a revocable living trust? How can a revocable living

What is a revocable living trust? How can a revocable living trust be used to help your estate? How does a revocable living trust affect estate taxes?

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Q: Jill just inherited $7 million from her grandfather in 2015.

Jill just inherited $7 million from her grandfather in 2015. How much of the inheritance is subject to estate tax?

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Q: Beyond the will, what does estate planning involve?

Beyond the will, what does estate planning involve?

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Q: What is an irrevocable living trust?

What is an irrevocable living trust?

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Q: How can contributions to charitable organizations help in estate planning?

How can contributions to charitable organizations help in estate planning?

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Q: What is a beneficiary? Why is it important to be specific

What is a beneficiary? Why is it important to be specific with regard to beneficiaries and assets in your will?

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