Which one of the following statements is true about estate planning? a. Estate planning is only for the rich.

b. It is always easy to plan for your family's financial security in the event of your death.

c. Estate planning does not require taking an inventory of everything you own.

d. Many people give a lot of thought to setting their financial affairs in order.

Question

Social Studies

Quinn Black

18 November, 22:54

Which one of the following statements is true about estate planning? a. Estate planning is only for the rich.

b. It is always easy to plan for your family's financial security in the event of your death.

c. Estate planning does not require taking an inventory of everything you own.

d. Many people give a lot of thought to setting their financial affairs in order.

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Answers (1)

Know the Answer?

Brogan Bautista · Answer 1

B. It is always easy to plan for your family's financial security in the event of your death.

Explanation:

Making plans about the transfer of your estate after your death is called estate planning. Estate is the property owned by a person, it includes jewellery, cars, land, cash and saving. There are various objectives of estate planning. It includes ensuring that the estate is to transfer the right to the beneficiaries, less payment of taxes on the estate and assigning guardians for minors.

Estate planning should be done when the person is in sound mind and at least eighteen years old. It should be done when the owner is free from emotional stress and is in good health.