Tue, 2023-May-23 00:21 UTC
Length - 1:53
Welcome to random Wiki of the Day where we read the summary of a random Wikipedia page every day.
The random article for Tuesday, 23 May 2023 is Estate planning.
Estate planning is the process of anticipating and arranging for the management and disposal of a person's estate during the person's life in preparation for a person's future incapacity or death. The planning includes the bequest of assets to heirs, loved ones, and/or charity, and may include minimizing gift, estate, and generation-skipping transfer taxes. Estate planning includes planning for incapacity, reducing or eliminating uncertainties over the administration of a probate, and maximizing the value of the estate by reducing taxes and other expenses. The ultimate goal of estate planning can only be determined by the specific goals of the estate owner, and may be as simple or complex as the owner's wishes and needs directs. Guardians are often designated for minor children and beneficiaries with incapacity.
This recording reflects the Wikipedia text as of 00:21 UTC on Tuesday, 23 May 2023.
For the full current version of the article, see Estate planning on Wikipedia.
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