You are asked by a local club to explain issues regarding estate tax planning. One of the issues is why should you have a will and what if you do not have one. Please provide a four page paper on the importance of estate planning for everyone. Address the different type of beneficiaries as well as different relationships. Include the medical directive and power of attorney issues. Also address decision making – the individual can only choose who gets their assets and how they are distributed if they are alive (why does this matter)?
You should write this as if you are explaining this to your loved ones.
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