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Abatement, Abatement Process, Asset Management, Beneficiary, Bequests, Debts, Earned Income After Death, estate, Estate Income Taxes, Estate Obligations, Estate Plan. Common Estate, Estate Planning, Estate Size, Estate Taxes, Expenses, Large Beneficiary Pool, Net Worth, Order of Payment, probate, Probate Avoidance Strategy, Probate Court, Retirement Accounts, Simplified Probate Process, Small Estate, Tax Planning, Tax Professional, Unintended Consequences, Well-Funded Estate, Will
To properly plan your estate, it’s important to understand how your estate size will influence your estate plan. As explained in the article The First Step to Estate Planning: Estimate Your Net Worth, your net worth will determine your estate size. By calculating your net worth, some important questions will come into focus regarding your estate plan:
- Are there enough assets to cover your debts and other estate obligations?
- If there are enough assets to cover the estate obligations, are the remaining assets enough to cover bequests?
- Do I need to plan for estate taxes or estate income taxes?
- Do I need to plan for abatement?
Obviously, these are just a few basic questions as life circumstances can make estate planning much more complicated. However, the answers to these questions will influence how you begin to properly plan for your estate.
There are many reasons a beneficiary may become belligerent. However, according to the article 
The doctrine of ademption applies to specific bequests no longer owned by the testator at death. In general, when bequeathed property is no longer part of the estate at death, the bequest fails. As a result, the intended beneficiary receives nothing and doesn’t retain any rights to the property. 
The time to review and file the estate income tax returns occurred simultaneously with closing the estate. According to the article 
After making the final distribution to the beneficiaries, final tasks remained to close the estate. As mentioned in the article 
