Estate Planning Essays (Examples)

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educe Tax Liability
One of the most important steps in developing an estate plan is identifying the most suitable or right beneficiary for a client's retirement plans. This is primarily because failure to do so generates several consequences because of the resultant financial effects. Actually, the failure to name the right beneficiary for a conventional retirement plan contributes to loss of the "stretch" life expectancy payout for the benefits. Moreover, it contributes to subsequent acceleration of income taxes, which can be financially detrimental. This is an issue that Johnson encountered in estate planning with regards to naming the right beneficiary for his assets. Johnson problem emerged from the fact that he had some assets in a traditional retirement plan, a oth plan, and nonretirement investments which he wanted to leave to charity, his wife, and his children though choosing a right beneficiary to lessen tax liability.

In Johnson's situation, all three….

Planning
What issues should be considered when a freezing order is issued against your client?

A freezing order, of course, is when the assets in question are frozen. This does not change the ownership of the asset but it does deprive the person from moving or harnessing the asset for as long as it's frozen. A frozen bank account is a specific example of this but it can apply to life insurance or any other retirement asset. The courts can issue a freeze order as can certain high-level politicians like the President if there are foreign business or people involved. A freezing order does not mean that the assets have been or will be confiscated but it could end up being that way depending on what is going on.

As for how to react to a freezing order, the first order of business is to figure out why the assets in question….

planning can be described as the process through which a person or family organizes to reassign assets in expectation of death. This process is geared towards safeguarding the maximum amount of wealth possible for the identified beneficiaries and elasticity for the person before death. During the process of developing an estate plan, one of the main concerns for drafters of the plan is state and federal tax legislations. In addition to considering federal and state law, the process of drafting an estate plan includes several people such as the family, other relevant individuals, and selected charitable organizations ("Do I Need Estate Planning?" par, 1). Furthermore, estate planning process involves the individual's property or assets and their varying ownership forms and titles. Actually, some of the most common tools used in the process of estate planning include trusts, wills, power of attorney, and estates.
hile estate planning is used to address….

Planning and Ethics
PAGES 3 WORDS 880

Planning Function of Management in an Information Technology Service
When we speak of information technology, we usually associate it with advanced tools, systems, state-of-the-art, and automated devices. In developing such technologies, planning is an essential process to ensure the systems' and devices' success. This importance in development planning should be similarly set to management planning in an organization. This paper will discuss how management planning is set in a company, InfoServ, which provides information technology services to different companies.

Management planning is considered by InfoServ as a critical process because it relates to how smooth the company will operate, as well as how smooth they can provide services to their clients. The management planning functions of the company includes concerns on the following.

Human resource planning.

This covers the management of human resource aspects such as availability of IT employees for the current projects and upcoming projects handled by the company, as well as….

Members agree to report any breach of the TPI Code to the Institute, subject to legal restrictions and assist the Institute in any related investigation. Lastly, the Council has the power to discipline members who are in breach of the code, yet this action will only be undertaken if the Council believes is personally responsible for the breach.
Does the Code of Conduct Address the Conceptual and Legal Meaning of Professionalism:

The TPI Code of Conduct addresses some of the conceptual meaning of professionalism. Duty, honor and integrity are addressed in the clauses in a variety of ways. The clauses concerning conflict of interest, the commitment to lifelong learning, reporting of gifts or commissions, ensuring members do not make statements contrary to their bona fide opinions, and taking all steps possible to maintain professional competence cover these two aspects quite well. Caring and altruism, however, are not fully addressed with the….

Planning Efforts to educe Future Disaster Impacts
This paper looks at options for programs to be put in place before to a disaster to avoid major and often poorly-managed expenditures after a catastrophe and to offer suitable protection against the risk of those large losses which do occur. It is important for the government to provide programs that enlightens the citizens on how to deal with the hazards that come with hurricanes. Natural hazards have taken place in America and they have not been well attended to. The response in the Haiti earthquake showed some weakness in response. Hurricane Katrina should have given Americans a lesson on how to prevent major destructions in case of a similar scenario.

Introduction

Katrina was a hurricane that hit the Atlantic in 2005 and was known to be the most dangerous hurricane in history of America. Over 1,836 people died as a result of this hurricane with….

So your wife can renounce the business given to her and then pass it without gift tax to the children. Disclaimers must be made within 9 months of the death of the first decedent if they are to avoid gift tax. An appropriate disclaimer may also be a very effective tool to assist in a poorly written estate plan.
7. JOINTLY HELD PROPERTY:

The joint tenancy form of ownership could result in many unintended and unfavorable consequences. For example, the entire property is usually subject to attachment by a creditor of any one of the joint tenants. There are also significant estate, gift, and income tax problems that are created from joint tenancy. If not given attention and consideration as part of a comprehensive estate plan, holding property together as a couple, can create bad results in terms of overpaying taxes.

Explanation: Solely half of the value of property held by you….

Thank you for your consideration of our company as your trusted Certified Public Accountant (CPA) and we hope that this is the beginning of a mutually beneficial relationship. Our company provides superior accounting services to clients with a wide range of accounting issues and needs. Therefore, we are ready to provide excellent accounting guidance and expertise that will help you achieve personal and financial success. In addressing your issue of irrevocable trusts, estate tax and gift tax, we will utilize a six-step procedure to provide you with the most reliable professional assistance.
Based on your request to establish an irrevocable trust for your two grandchildren, the determination of the impact of such a trust on gift tax and estate tax is important. An irrevocable trust is one with specified terms that cannot be changed even by the grantor once the agreement has been signed (Garber, 2017). In your case, there is….

Smiths to Minimize Their Total Tax Liability
Mr. and Mrs. Smith's concerns about their future income and estate tax bills are important because of their need to engage in tax planning, which can be described as organizing personal financial affairs in order to lessen taxes. In light of their concerns and current situation, there are several recommendations or ways with which the Smiths can reduce their future income and estate tax bills. Therefore, your advice to them on tax planning should be based on considerations of these various recommendations in light of their advantages and disadvantages in addressing their concerns.

One of the ways through which the Smith's can minimize their total tax liability is through giving annually, which will help lessen future estate taxes. As of 2015, the federal estate gift and estate tax exemption amount was $5.43 million, which implied that taxable estate exceeding this amount would be subject….

Case Study: Governmental elations in Urban PlanningIntroductionTwo forms of local governments in the U.S. include cities and counties. Cities are more localized jurisdictions, typically governed by a mayor and city council, while counties are larger regions, with their own elected county commissioners, who have authority over services such as education, roads, and law enforcement (Sellers & Scharff, 2020). The form of local government has an enormous impact on planning. Cities and counties can develop long-term plans to address housing, economic development, transportation, and other issues important to their citizens (Atkinson, 2019). These plans are typically set by and for the local government, which can be especially beneficial in areas without state or federal planning initiatives. Additionally, cities and counties can create zoning laws that control how land is used and developed, as well as ordinances and regulations that guide how businesses operate, including noise and emissions control (Kim, 2020). This….

Though this means a loss of $150,000 over the five years the Social Security benefits are not taken, this will be paid for in just twelve and a half years by the increased amount of the benefits (that is, it will take 12.5 years for the additional $12,000 per year to equal $150,000). In addition, there is a tax benefit in waiting to collect Social Security benefits until no additional income is coming in, and as Harry plans to continue working part-time for the foreseeable future and this could lead to taxation of the Social Security benefits. When Social Security benefits are the only source of income they are very rarely taxed, but even with the healthcare expenses Harry plans to commit his salary towards this income could lead to what essentially amounts to a tax penalty, pushing the combined total of his salary and the Social Security benefits….

New York eal Estate and Office Markets
NEW YOK CITY OFFICE MAKET

New York is one of the premiere metropolitan areas of the world, exerting a significant impact on global commerce, finance, media, art, fashion, research, technology, education, and entertainment. The home of the United Nations Headquarters, New York City is an important center for international affairs and is widely deemed the cultural capital of the world. With its unmatched scope of building types, diverse tenant base and extensive transportation system, the city has earned an iconic and prominent place in the global market.

The borough of Manhattan serves as its hub and is the nation's largest single office market with 450 million square feet of space (Brown, 2007). Its office inventory is greater than the next five largest U.S. markets combined and features some of the world's most iconic properties (Beauregard, 2005). This paper explores the current state of office market conditions….

(35)
McElroy's Myth 2, however, is less cautious. It is a myth, he says, that one must start small. (4) Start big in the real estate game of investment property, the author says to maximize one's incoming cash flow, and actually minimize the investment risk. The larger the property, the more money a real estate investor is likely to have coming in, in terms of rent, and the more money he or she will have defray the beginning costs. Yes, it might at first turn your stomach to make a large outlay -- but that relates to Myth 3, which seems to be the opposite of Myth 2, even though both are interrelated. Myth #3 is that "You Can 'Flip' Your ay to Success or Get Rich Quick with No Money Down." All investment involves some risk and initial outlay, and unfortunately, one must invest to eventually see a return….

Conflict and Its esolution in the eal Estate Industry
In real estate, all experienced sales people will have an unhappy customer to deal with at some point in their careers. Those who are most skilled know how to utilize specific techniques that will defuse or reduce the intensity of the situation. In every instance, conflict and resolution techniques will often work in conjunction with each other. (Tamper, 1999) (Furlong, 2010)

For real estate professionals, the key is being able to avoid one and use the other to satisfy complaints. To fully understand these variables requires focusing on relevant issues and key questions. Together, these elements will offer specific insights which are highlighting how the two work in conjunction with each other. It is at this point, when they can reduce conflicts and provide more effective resolution techniques. (Tamper, 1999) (Furlong, 2010)

elevant Issues

In real estate, the customer relationship is critical. This is because….


ased on the income stream, what is the estimate of the market value of the property this year?

The estimated property value for the building this year would be: $1,723,231.00. This number was calculated by adding the net operating income together, to determine the underlying present value of the asset.

Here are some issues concerning the physical property which may adversely affect its future cash flows. How will you deal with the following? 1. Roof needs $50,000 worth of repair work. 2. Several (6) heat pumps as part of your HVAC (Heating, Ventilation, Air Conditioner) system need to be replaced at a cost of $5,000 each. A workout facility is planned for the lower level at a cost of $125,000.

The total amount of repairs that the building will need is $205,000.00. This can be broken up over a series of five years, by investing a consistent amount of $41,000.00 per year. This….

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2 Pages
Case Study

Literature

Estate Planning Scenario to Lessen Tax Liability

Words: 700
Length: 2 Pages
Type: Case Study

educe Tax Liability One of the most important steps in developing an estate plan is identifying the most suitable or right beneficiary for a client's retirement plans. This is…

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4 Pages
Essay

Economics

Planning What Issues Should Be Considered When

Words: 1267
Length: 4 Pages
Type: Essay

Planning What issues should be considered when a freezing order is issued against your client? A freezing order, of course, is when the assets in question are frozen. This does…

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2 Pages
Research Paper

Economics

Planning Can Be Described as the Process

Words: 732
Length: 2 Pages
Type: Research Paper

planning can be described as the process through which a person or family organizes to reassign assets in expectation of death. This process is geared towards safeguarding the…

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3 Pages
Term Paper

Business - Management

Planning and Ethics

Words: 880
Length: 3 Pages
Type: Term Paper

Planning Function of Management in an Information Technology Service When we speak of information technology, we usually associate it with advanced tools, systems, state-of-the-art, and automated devices. In developing such…

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5 Pages
Essay

Business - Ethics

Planning Professional Code of Conduct

Words: 1329
Length: 5 Pages
Type: Essay

Members agree to report any breach of the TPI Code to the Institute, subject to legal restrictions and assist the Institute in any related investigation. Lastly, the Council…

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4 Pages
Research Paper

Weather

Planning Efforts to Reduce Future Disaster Impacts

Words: 1397
Length: 4 Pages
Type: Research Paper

Planning Efforts to educe Future Disaster Impacts This paper looks at options for programs to be put in place before to a disaster to avoid major and often poorly-managed expenditures…

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10 Pages
Corporate Writing

Economics

Clients About Estate and Gift

Words: 3229
Length: 10 Pages
Type: Corporate Writing

So your wife can renounce the business given to her and then pass it without gift tax to the children. Disclaimers must be made within 9 months of…

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2 Pages
Essay

Accounting / Finance

Impact of Irrevocable Trusts on Gift Tax and Estate Tax

Words: 645
Length: 2 Pages
Type: Essay

Thank you for your consideration of our company as your trusted Certified Public Accountant (CPA) and we hope that this is the beginning of a mutually beneficial relationship. Our…

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4 Pages
Professional Writing

Accounting / Finance

Mr and Mrs Smith's Tax Planning

Words: 1344
Length: 4 Pages
Type: Professional Writing

Smiths to Minimize Their Total Tax Liability Mr. and Mrs. Smith's concerns about their future income and estate tax bills are important because of their need to engage in…

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7 Pages
Case Study

Urban Studies

Planning Techniques Used by Counties

Words: 1961
Length: 7 Pages
Type: Case Study

Case Study: Governmental elations in Urban PlanningIntroductionTwo forms of local governments in the U.S. include cities and counties. Cities are more localized jurisdictions, typically governed by a mayor and…

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5 Pages
Essay

Economics

Harry & Sally's Estate Plan

Words: 1432
Length: 5 Pages
Type: Essay

Though this means a loss of $150,000 over the five years the Social Security benefits are not taken, this will be paid for in just twelve and a…

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7 Pages
Research Paper

Urban Studies

New York Real Estate and Office Markets

Words: 2269
Length: 7 Pages
Type: Research Paper

New York eal Estate and Office Markets NEW YOK CITY OFFICE MAKET New York is one of the premiere metropolitan areas of the world, exerting a significant impact on global commerce,…

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3 Pages
Term Paper

Urban Studies

Abcs of Real Estate Investing

Words: 1114
Length: 3 Pages
Type: Term Paper

(35) McElroy's Myth 2, however, is less cautious. It is a myth, he says, that one must start small. (4) Start big in the real estate game of investment…

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6 Pages
Term Paper

Urban Studies

Conflict and Its Resolution in the Real Estate Industry

Words: 1704
Length: 6 Pages
Type: Term Paper

Conflict and Its esolution in the eal Estate Industry In real estate, all experienced sales people will have an unhappy customer to deal with at some point in their careers.…

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4 Pages
Business Proposal

Urban Studies

Property Management in Real Estate

Words: 983
Length: 4 Pages
Type: Business Proposal

ased on the income stream, what is the estimate of the market value of the property this year? The estimated property value for the building this year would be: $1,723,231.00.…

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