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CONSUMER SERIESFINANCE Estate Planning For Parents of Minor Children by Celeste Holder Klingon. 9.1021Why Estate Planning? Quick Facts... Estate planning lets parents plan for care of their children,
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Estate planning for parents is the process of making arrangements for the management and distribution of assets in the event of incapacity or death.
Parents who have assets that they want to pass on to their children or other beneficiaries are required to file estate planning.
Estate planning for parents can be filled out with the help of a qualified estate planning attorney who can assist with the legal documents and decision-making process.
The purpose of estate planning for parents is to ensure that their assets are distributed according to their wishes and to minimize taxes and other expenses.
Information such as a list of assets, beneficiaries, healthcare directives, and powers of attorney must be reported on estate planning for parents.
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