Personal Finance
7th Edition
ISBN: 9780134989969
Author: Madura, Jeff
Publisher: Pearson,
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Question
Chapter 20, Problem 1RQ
Summary Introduction
To discuss: The term estate, estate planning and important goals of estate planning.
Expert Solution & Answer
Explanation of Solution
The term estate signifies an individual’s assets after any prevailing liabilities are set off. Estate planning is a process of planning how a person’s wealth should be distributed upon or beforehand demise. The estate planning’s important goal is to reduce taxes on assets person’s desires to transmit to the recipients.
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Chapter 20 Solutions
Personal Finance
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