Overview
For this essay, discuss the estate distribution process and how the case proceeds through probate court. What assets will be included in the probate process, and why might others be excluded? What similarities and differences would be found between formal and informal proceedings? When would you choose to follow formal (solemn) probate instead of informal (common) probate when administering a decedent’s estate? How is a personal representative appointed? What document authorizes a personal representative to manage a decedent’s estate?
Your essay must be at least two pages in length. Support your essay with two resources from the CSU Online Library that elaborate on the estate distribution process (this resource can be anything from a video to a book). Provide APA Style citations and references for all sources used.
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Create a 3-to-5-minute audio or video podcast explaining the topic of taxes and the estate, or a trust and how it works.
Create your audio or video podcast using the following format:
Conceptualize Your Podcast
- Decide on the topics or concepts to discuss.
- Choose a format (interview, solo, co-hosted, narrative, etc.).
Gather Equipment
- Decide whether to use a mobile phone or computer recording.
Prepare Your Podcast
- Write a script.
- Practice your script.
Record and Publish Your Podcast
- Record using your phone or computer.
- You may upload your 3-to-5-minute audio or video podcast recording to Blackboard or another streaming platform of your choice. Ensure your professor may access the recorded podcast.
- If you upload your podcast to a streaming platform, be sure to include the link along with your script.
- If you are uploading your podcast to Blackboard, then you may attach the script to the assignment submission
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For this journal, discuss some of the major tax savings tools, documents, and other considerations used for estate planning. This may include contracts, policies, and other devices used to prepare during the lifetime of the owner or after death. These items may be used to lower tax liabilities or manage the estate. Also, explain why a long-term care policy may be beneficial to the planning efforts.
Submit your response as an attached Word document. Your response must be at least 200 words in length. No references or citations are necessary.