Ch 10: Retirement & Estate Planning

About This Chapter

Let our video lessons help you learn more about income sources in retirement and how to organize an estate and make a will. After each lesson is a short quiz that lets you check your comprehension of the subject.

Retirement & Estate Planning -- Chapter Summary and Learning Objectives

This chapter's lessons look at the pension, Social Security and potential financial issues of retirees. You'll also get information on wills, power of attorney and provisions that should be made for health care. Lesson quizzes allow you to test your knowledge, and you can even print out a worksheet to study when you are offline. These videos cover information including:

  • Types of retirement and pension plans
  • Social Security legislation
  • Social Security cost of living adjustments
  • Wills
  • Considerations of estate planning

Video Objectives
Understanding Retirement and Pension PlansLearn about various types of retirement income sources, including pensions.
Social Security: Legislation and IssuesExamine laws and controversies regarding the Social Security program.
Cost of Living Adjustment: History & Formula See how the Social Security cost of living adjustment works and how it got started.
Wills: Validity, Changes & ProbateDiscover what constitutes a valid will and learn what probate is.
Estate Planning: Taxes, Trusts & GiftsGet information on estate taxes and how to use trusts and gifts to allocate assets. Learn about the importance of a living will.

10 Lessons in Chapter 10: Retirement & Estate Planning
Test your knowledge with a 30-question chapter practice test
Sources of Income in Retirement

1. Sources of Income in Retirement

In this lesson, learn several key ways that older adults pay their bills after retiring from work. You'll see how people can have different experiences in funding their retirement.

Social Security: Legislation and Issues

2. Social Security: Legislation and Issues

Passed as part of the New Deal in 1935, the Social Security Act established benefits for retired and unemployed people. This lesson generally explains the Social Security Act and the Federal Insurance Contributions Act.

Understanding Retirement and Pension Plans

3. Understanding Retirement and Pension Plans

Businesses use many different types of retirement plans for their employees. Two of the most common are pension plans and 401(k) plans. This lesson discusses these two kinds of retirement plans.

What Is a SEP IRA? - Definition, Requirements, Rules & Contributions

4. What Is a SEP IRA? - Definition, Requirements, Rules & Contributions

This lesson provides an overview of a SEP IRA, a retirement plan typically used by small businesses. In the lesson, you'll get a definition of the term and see an outline of the requirements, rules, and contributions.

What is a Rollover IRA? - Definition, Rules & Sample

5. What is a Rollover IRA? - Definition, Rules & Sample

This lesson will define a rollover IRA, or an individual retirement account. This lesson will also explain the rules associated with a rollover IRA and a sample will be given.

Cost of Living Adjustment: History & Formula

6. Cost of Living Adjustment: History & Formula

In this lesson, the history and formula of the Cost of Living Adjustment is explored. You'll also learn how to apply the Cost of Living Adjustment to a Social Security benefit payment.

Wills: Validity, Changes & Probate

7. Wills: Validity, Changes & Probate

A will is a list of a person's last wishes and describes how assets are to be distributed in the event of death. When a person dies, the will goes into probate to execute the wishes of the deceased.

Interest in Real Property: Types of Estates

8. Interest in Real Property: Types of Estates

There are several different ways a party can own an interest in real property. There are possessory types of interests and non-possessory types of interests. This lesson explains the main types of real property ownership.

Estate Planning: Taxes, Trusts & Gifts

9. Estate Planning: Taxes, Trusts & Gifts

In this lesson, we'll discuss the estate planning process and define the following terms: assets, beneficiary, and will. You'll also learn about the benefits of trusts and gifts as they relate to estate and gift taxes.

Transferring Property Rights to a Personal or Family Trust

10. Transferring Property Rights to a Personal or Family Trust

Property rights can be held in a trust. In this lesson, we will learn about types of trusts and their advantages and disadvantages. We will also learn about the parties involved in trusts. A short quiz follows the lesson.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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