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1. What are the common goals and objectives of estate planning? 2. What is the gift tax...

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Finance

1. What are the common goals and objectives of estateplanning?

2. What is the gift tax annual exclusion for a non-citizenspouse?

3. List all of the transfers we have learned about which willnot result in a gift tax obligation

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1 Common estate planning goals include Creating a last will and testament Setting up an estate trust in the names of beneficiaries Selecting an executor to supervise the objectives of your will and ensure they are followed Adding or removing beneficiaries from 401ks life insurance policies and IRAs Making funeral arrangements Establishing yearly gifting to reduce estate taxes Arranging a durable power of attorney to oversee additional assets and investments Consequences of Dying Without a Will 2 On November 15 the IRS announced the official estate and gift exclusion amounts for 2019 in Revenue Procedure 201857 For an estate of any decedent dying during calendar year 2019 the applicable exclusion is increased from 1118 million to 114 million This change increases not only the applicable    See Answer
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1. What are the common goals and objectives of estateplanning?2. What is the gift tax annual exclusion for a non-citizenspouse?3. List all of the transfers we have learned about which willnot result in a gift tax obligation

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