Estate planning : a life and death necessity : an honors thesis (HONRS 499)

Estate planning is vital for everyone, people with possessions and especially people with minor children. It is a dynamic issue; however, with basic information the process can be simplified. This basic guide to estate taxes, planning tools, and professional advisers should be useful to anyone considering estate planning. In an attempt to explain the various planning tools, a description of several estate-planning tools and the use for that method is included. For most of the tools, advantages and disadvantages are also discussed. Estate taxes are a complex issue and should be left to an accountant; however, an understanding of exemption amounts and unified credits is helpful in estate planning. Additional professionals may also provide needed services during the estate planning process. Examples of several professionals and their role in estate planning are discussed for the reader's benefit.Honors CollegeThesis (B.S.