Financial planning necessarily involves an understanding of tax laws and how they affect your elderly client’s estate.
In a 2 page paper APA format, respond to the following:
What is an estate tax?
What are the advantages and disadvantages of estate tax?
What should Elder Law professionals do to protect a client’s estate under this tax law?
Discuss the concepts of taxable estate and gross estate.
What is a generation-skipping transfer tax?
What is a gift tax? What are the gift tax exemptions?
What is a life estate? What is its use in estate planning? How is it created? What are its advantages and disadvantages?
What is a trust? What are the different tpes of trusts that can be created?
What are the advantages and disadvantages of each of the different types of trusts?
What is a reverse mortgage? Who is eligible for a reverse mortgage? What are its advantages and disadvantages?
