During 2016, an estate generated income of $20,000: Rental income . . . . . . . . . . . . . $9,000Interest income . . . . . . . . . . . .. 6,000Dividend income . . . . . . . . . . . . 5,000 The interest income is conveyed immediately to the beneficiary stated in the decedent’s will. The dividends are given to the decedent’s church.What is the taxable income of the estate?

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Reasons for Estate Planning

Planning is a process that helps decide in advance about future activities and operations. Planning helps to draft the procedures by identifying, analyzing, and designing how to work, when to work, by whom should be done, and what has to be done. It is the primary step followed by a person, business organizations, institutions, companies, etc.