One benefit of estate planning is
A)protecting your wealth against unnecessary taxes.
B)sheltering your wealth against all taxes.
C)ensuring that your wealth is distributed according to intestacy laws.
D)ensuring you have enough money to fund your retirement.

Question

Quizplus · Accepted Answer

Estate planning can help you protect your wealth against unnecessary taxes by utilizing legal strategies such as creating trusts or gifting assets to beneficiaries in a tax-efficient manner. It cannot shelter your wealth against all taxes or ensure that your wealth will be distributed according to intestacy laws, which vary by state and may not align with your personal wishes. It also may not directly ensure you have enough money to fund your retirement, although it can help you plan for expenses and minimize taxes during retirement.

One Benefit of Estate Planning Is