Think you know your estate planning rules? Put them to the test.
In this episode of BIF Bites, Jerry, Tiffany, and Kaylee play estate planning fact or fiction, tackling common misconceptions and the small wording differences that can make a big difference on the CFP® exam. From revocable trusts and powers of attorney to QTIPs, QPRTs, estate taxes, and marital deductions, they break down what’s always true, sometimes true, and just plain wrong.
3 Takeaways
- How revocable and irrevocable trusts differ for probate, creditor protection, and estate planning.
- When powers of attorney remain effective and why terms like “durable” and “springing” matter.
- How to spot estate planning traps involving QTIPs, QPRTs, estate taxes, and marital deductions.
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