Question: Although he has a vast fortune, Mickey has decided not to prepare an estate plan because he believes that his surviving family members will divide
Although he has a vast fortune, Mickey has decided not to prepare an estate plan because he believes that his surviving family members will divide up his assets appropriately. Which of the following is not a risk associated with failing to plan an estate?
Mickey's favorite Corvette may not be transferred to his exwife, Stacey.
Mickey's estate may incur excessive transfer taxes.
Mickey's IRA account may not be paid out to the named beneficiary.
Mickey's current wife, Odessa, may not provide for Mickey's children from a previous marriage.
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