Financial planning necessarily involves an understanding of tax laws and how they affect your elderly client s estate assignment help

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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?

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