Memorandum Name of Student Institution affiliation MEMORANDUM TO: CC: FROM: DATE: 3rd March 2017 SUBJECT: Estate Planning Dr. James Parker 42 a new client is in the initial steps of establishing an effective and appropriate estate plan. In this light the client wishes to draw your attention to the following issues and concerns with regard to the subject matter. The subject is a married middle-aged professional working in the construction industry. He is married to a single spouse and has two kids 12 and 16 years of age. The estate of the client is vast with numerous real estate ventures in different parts of the state. The estate also comprises a construction company. Ownership of the property is in different forms ranging from tenancy by the entirety to joint tenancy with the right of survivorship. The client is interested in preparing a valid and comprehensive estate plan. Below is have been transferred from the estate. This is to tax computations is done accurately. The will provides for the existence of an Irrevocable Life Insurance Trust (ILIT) and a trustee is named. The provisions of the will on this subject however denies the trustee the authority to transact with the trust in any form such as loaning money as well as purchasing assets from the estate. The will identifies two reasons for denying the trustee the right to transact as outlined herein. a. To secure the objectivity of the trustee b. To safeguard against depletion of the trust through inappropriate financial transactions by the trustee Works Cited Akers S. (2014). Estate Planning: Current Developments and Hot Topics. Bessemer Trust Company. Drendel K. (2014). The Difference Between Executors & Trustees. Drendel & Jansons Law Group. Retrieved from batavialaw.com Drendel K. (2015). Estate Planning Probate and Estate Administration. Retrieved from http://batavialaw.com/faqs-about-probate/ [...]
Estate Planning: Identify the issues and concerns of a client family in the early stages of creating an estate plan. Using the general guidelines in the attachment. Write a memo to your supervisor describing the client family’s current situation and how to best begin to meet their needs and goals for an estate plan. Write your memo in a Word document. I must be 1,000 words and in current APA format. Scholarly, legal, or biblical sources are integrated into the analysis and appropriately cited. To organize your memo, start with a general description of your client family. Then, use the Estate Plan Checklist (attachment) as an outline. Address each question/category. Without more detailed information and the actual plan, you will not be able to answer all of the questions but you must identify facts and issues with this family that will impact and guide the ultimate creation of the plan for each category. After Reading the requirements please add CFA to your reply!