Alyssa Evans

Finance 3060
Outline
Estate Planning
I.

Thesis: Estate planning is a very important process of accumulating,

managing, conserving, and transferring of the wealth and possessions that we
are wanting to give to our dependents or whoever we so desire when we die.
a. Goals, Objectives, and Risks of Estate Planning
b. Estate Planning Process
i. Step 1: Determine what your estate is worth
ii. Step 2: Choose your heirs and decide what they receive
iii. Step 3: Determine that cash needs of the estate
iv. Step 4: Select and implement your estate planning techniques
c. Establish the Client/Planner Relationship
d. Collect Client Information and Define Transfer Objectives
e. Basic Documents Included in an Estate Plan
f. Article: Five Things Every Woman should know about when estate
planning
i. http://www.planningyourlegacy.com/estate-planning/womanestate-planning/

II.

Understanding and Avoiding Estate Taxes

a. Estate Taxes
b. Gift Taxes
c. Unlimited Marital Deduction
d. Generation-Skipping Tax
e. Calculating Estate Taxes
i. Step 1: Calculate the value of the gross estate
ii. Step 2: Calculate your taxable estate
iii. Step 3: Calculate your gift-adjusted taxable estate
iv. Calculate your estate taxes

III.

Wills
a. Definition of Wills
b. Article: Wills and inheritance: how changes to the intestacy rules affect
you
i. http://www.theguardian.com/money/2014/sep/20/wills-inheritancechanges-intestacy-rules
c. Types of Wills
d. Why do you need a will?
e. Basics of Writing of a Will
f. Basic Organization of a Will
i. Introductory statement
ii. Payment of debt and taxes clause
iii. Disposition of property clause

iv. Appointment clause

v. Common disaster clause
vi. Attestation and witness clause
g. Requirements of a Valid Will
h. Updating or Changing Your Will
IV.

Trusts
a. Definition of Trusts
b. Characteristics of Trusts
i. Grantor
ii. Trustee
c. Types of Trusts
i. Living Trusts
1. Article: Four Facts of Living Trusts
a. http://www.kiplinger.com/article/retirement/T021C000-S001-four-facts-of-living-trusts.html
2. Types
a. Revocable Trusts
b. Irrevocable Living Trusts
ii. Testamentary Trusts
1. Article: Testamentary Trusts
a. http://www.nolo.com/legalencyclopedia/testamentary-trusts.html
2. Types
a. Standard Family Trusts
b. Qualified Terminable Interest Property Trusts
c. Sprinkling Trusts
d. Benefits of Using Trusts for Estate Transfer
e. Rights of the Estate
i. Partnership Theory of Marriage Rights
ii. Community Property Laws
iii. Community Property
iv. Separable Property
v. Planning Documents
1. Durable Power of Attorney (POA)
2. Living Will
3. Health Care Proxy
vi. Article: Eight Smart Estate Planning Steps to Die the Right Way
1. http://www.kiplinger.com/article/retirement/T021-C000S002-8-smart-estate-planning-steps-to-die-the-rightway.html

V.

In Conclusion
a. Top 3 missteps that many people make in investing in estate planning
b. Restate thesis