ALLIED FIN202 MODULE 8 HOMEWORK ASSIGNMENT

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PART IDirections:
Using Microsoft® Word to save and submit your work, please provide
detailed and elaborate responses to the following questions. Your responses should include examples from
the reading assignments. 1.
What are the key steps in retirement
planning?2.
Why is retirement planning important?3.
What are the possible sources of income
for retirees?4.
What is estate planning, and how does
your personal situation affect that planning?5.
Explain what a will is and what occurs
at your death if you do not have one.6.
What are some common reasons for setting
up a trust?7.
What types of housing options are
available to retirees?8.
What types of expenses might increase
during retirement?9.
How can retirees avoid housing traps?10. Explain
the difference between a defined-contribution and defined-benefit plan.11. Describe
some of the most common retirement misconceptions and explain what you should
do if you hold to any of those misconceptions.12. What
are the federal and state tax considerations in estate planning?13. How
do wills and trusts help in planning your estate?PART IIWrite a 2-3
page, double-spaced paper in 12 pt. font answering the following question. Please use APA format.
Using the Internet to Obtain Information about
Wills. Visit Metropolitan Life Insurance Company’s
web page at .lifeadvice.com/”>http://www.lifeadvice.com. Using this information, prepare a report on
the following: (a) Who needs a will? (b) What are the elements of a will
(naming a guardian, naming an executor, preparing a will, updating a will,
estate taxes, where to keep your will, living will, and etc.)? (c) How is this
report helpful in preparing your own will?