Essentials of Estate Planning

Economics graduate Robert M. Ryerson shares his knowledge and experience in the financial field by speaking, teaching, and writing about identity theft protection. Also an estate administrator, Robert M. Ryerson has offered advice to clients on various aspects of estate planning.

Whether a client already has an estate plan or not, it is important to be educated about the fundamentals of estate planning. Being informed about estate planning involves understanding its complex process to be able to make the right decisions regarding wishes and goals as well as final instructions.

The Purpose. Estate planning deals with two aspects – what will happen to a client’s property after death and what will happen to him or her in case of incapacity.

The Taxes. Estate tax, income tax, gift tax, and generation skipping transfer tax are four tax types which can affect an estate plan. How these taxes affect an estate plan will also dictate how much inheritance the beneficiaries will receive.

Property Titles. It is essential to identify if property belongs to a joint ownership, tenancy by the entirety, or has provisions through a revocable living trust. How a property is titled will help determine its beneficiaries.

 

Author

Robert Ryerson

Although Robert M. Ryerson completed all the necessary requirements to earn bachelor of arts degrees in both English and economics at Rutgers University, college policy at the time prohibited the issuance of dual degrees. As a result, he graduated from Rutgers with a single bachelor of arts in economics before finding employment as a stockbroker with Shearson Lehman Brothers in New York City. Robert M. Ryerson has since established himself as a respected estate administrator and legacy planner. In addition to his degree from Rutgers, Mr. Ryerson holds professional designations as both a Certified Financial Planner professional and a Certified Identity Theft Risk Management Specialist. He has shared his knowledge on the subject of identity theft as the author of the book What’s The Deal With Identity Theft?: A Plain-English Look at Our Fastest Growing Crime. He has also covered identity theft issues directly for students as the instructor of the adult education course Understanding Identity Theft: Our Fastest Growing Crime.

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