PPT-Chapter 16 Estate Planning: Saving Your Heirs Money and Headaches

Professor Payne Finance 4100 Learning Objectives Understand the importance and the process of estate planning Draft a will and understand its purpose in estate planning Avoid probate 2 Introduction. Introduction . Part One. Transition Planning. Course Objective. Create and implement an overall strategy to move the farm or ranch business from one generation to the next.. By developing the knowledge and skills necessary to begin a conversation leading to the development and implementation of a farm/ranch transition plan. . Why is Estate Planning Important?. It allows you, while you are still living, to ensure that your property will go to the people you want, in the way you want, and when you want. .. To control your personal and financial affairs after you no longer can because of death or incapacity (for yourself and your family). Remainders – Generally. 1. Future interest held by someone other than grantor. Warning: Not all future interests held by a non-grantor qualify as remainders; they could be . executory. interests.. Laundering / Combating the Financing of . Terrorism. Compliance Unit. Ministry of National Security . Objectives of the . AML/CFT. Compliance Unit. . of the Ministry of National Security.. Receiving. Lew Dymond, Jr., Esq.. Control my property while I’m alive and well.. Provide for myself and my loved ones if I become disabled.. Give what I have:. To whom I want;. The way I want;. When I want.. Minimize the impact of taxes, professional fees, and court costs.. This PowerPoint series is based on . Energy Savers Booklet, Tips on Saving Energy & Money at Home . developed by the U.S. Department of Energy.. Contents. 1. Save Energy and Money Today. 2. Your Home’s Energy Use. This PowerPoint series is based on . Energy Savers Booklet, Tips on Saving Energy & Money at Home . developed by the U.S. Department of Energy.. Contents. 1. Save Energy and Money Today. 2. Your Home’s Energy Use. Most people save and invest to meet a goal…. Buying a car. Continuing their education. Starting a family. First home. Build up a “rainy day” fund. Provide funds for a “comfortable” retirement. Section 1-Reasons for Saving and Investing. Savings. Money set aside for the future (also known as deferred spending). Emphasis on “safety of principal”—protecting the balance in your account. Types of savings—safe, because these are FDIC Insured. Estate Planning. A process of assuring that a person’s assets remain intact to protect the family before and after death.. Estate planning includes contributing to one’s . retirement income . as well as using certain legal instruments such as . My Bucket List . Have you ever heard of a bucket list?. What would go on yours?? (write on back). Volunteers to share. (Activity: Show Me The Money). Learning objectives. Understand the . importance of setting goals . How . to live within one’s income . Income is received from work and is . limited . Budget is a tool to plan the spending and saving of . income. Reasons and benefits of saving . Uses and costs of credit . CCM Finance explains the reasons why a specialized real estate investment lender can often help even when traditional banks cannot. Visit: https://ccm-finance.com/ R. Max Best. GOALS AND PURPOSES OF ESTATE PLANNING. Arrangement of one’s estate for disposition and management of property at death . The purpose of estate planning is to preserve and transfer the maximum amount of wealth for your beneficiaries and to reduce the stress of management for your heirs and beneficiaries, .