assign_4_08[1] - 7 Would a living trust be a helpful tool...

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Estate Planning Fall, 2008 Questions for Discussion October 27 Goals and Techniques of Planning YOU DO NOT NEED TO SUBMIT ANSWERS TO ME 1. Can you identify at least five typical goals of a client interested in doing estate planning? 2. What is “probate?” 3. Why would someone want to “avoid probate?” 4. What is a “living trust?” 5. How can a living trust be used to avoid probate? 6. What other reasons might cause someone to set up a living trust?
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Unformatted text preview: 7. Would a living trust be a helpful tool for the Knox family? Why do you reach this conclusion? 8. Why do most planners urge wealthy married couples to distribute their assets so that their estates are balanced? 9. How can the marital deduction be used to minimize estate tax liability? 10. What is meant by “bypass planning?” 11. What is meant by a “credit shelter” trust and how does the concept work?...
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