Estate Planning Software & PowerPoint
Microsoft PowerPoint, estate planning software and even the calculators available on the AARP website allow people to plan for the last stage of life. Typically, this planning focuses on managing money and insurance -- additionally, estate planning and arranging for long-term health care. Estate planning, the process of defining how money is divided up after someone dies, prevents beneficiaries from arguing over monetary decisions made as well as reduces taxes or other expenses.
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Features
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People want to pass down the majority of their savings, with as few taxes as possible, to their heirs. Typically, they hire accountants and lawyers to assess their needs so that they can most effectively manage their affairs. In addition to a comprehensive health care plan, people need to plan for other financial and legal issues associated with giving assets, such as houses, investments and money in bank accounts to loved ones or charitable organizations. Adequate estate planning helps avoid probate (a legal process that declares a will valid and ensures the orderly distribution of assets) and minimizes taxes, sometimes by setting up trusts.
Benefits
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Legal documents can be drawn up using free or low-cost estate planning software, Microsoft PowerPoint presentation templates and standard document templates. These tools allow people to create wills, trusts, powers of attorney, private annuity agreements and other legal materials. The American Bar Association provides many free resources.
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Types
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Estate planning software allows a person to create a will -- a legal document that describes who will manage his estate, who gets his assets and, if necessary, who should become guardian of any minor children or other dependents. Without a will, the state makes these decisions. Free or low-cost software also allows a person to create a document called durable power of attorney that delegates the power to handle his finances, should he become ill. Without this document, no one can access bank accounts or other securities without legal proceedings. Additionally, software can help people create advance directive documents, such as living wills and letters of instruction (informal documents that list special requests). Microsoft PowerPoint presentation software allows a person to create short presentations that describe their intentions.
Considerations
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Using Microsoft PowerPoint presentation templates designed for the legal profession available from the Microsoft website, people can create professional presentations of their plans for their estates. BNA Software offers a free trial of its BNA Estate and Gift Tax Planner product. It performs basic and advanced estate tax calculations that help people with their estate planning.
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