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Explain the estate planning objectives

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Reference no: EM133175005

Mark, age 60 recently sold his business for $2 Million. For estate planning purposes, he transferred $500,000 of the cash proceeds into a discretionary family trust, with his wife and adult children as beneficiaries. What estate planning objectives does the use of this trust achieve?

1. Tax deferral on capital gains to date

2. Avoids the need to execute a POA

3. Protection for his children from potential spousal claims

4. Privacy concerning the details of his holdings

Reference no: EM133175005

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