Estate planning results in
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)eliminating all controversy in your family.

Question

Quizplus · Accepted Answer

Estate planning is the process of arranging for the distribution of an individual's estate after their death. One of the main goals of estate planning is to protect the individual's wealth against unnecessary taxes. This can be achieved through various strategies such as setting up trusts and making gifts. However, it is not possible to completely shelter one's wealth against all taxes, as there are certain taxes such as estate taxes that may be applicable. Estate planning also helps to ensure that the individual's assets are distributed according to their wishes and not according to intestacy laws, which apply when an individual dies without a valid will. While estate planning can help minimize controversy in a family, it cannot guarantee the complete elimination of all disagreements.

Estate Planning Results in