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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

Social security provides benefits for retired and unemployed people and began as part of the New Deal in 1935. Explore legislation and issues around social security and learn about the Social Security Act, a unique solution, FICA, and the Social Security Trust Fund.

Understanding Retirement and Pension Plans

3. Understanding Retirement and Pension Plans

Retirement plans are saving plans, usually offered through an employer, that help employees put away money for retirement. Discover the different types of retirement plans, pension plans, and how they work.

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

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

The Simplified Employee Pension Individual Retirement Account, or SEP-IRA, is a type of retirement savings account established by business owners for employees. Learn more about the definition of a SEP-IRA, requirements to invest and other rules, and contributions needed for the program.

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

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

When individuals change jobs, they may need to transfer retirement funds from previous employers. Explore the definition, rules, and a sample of a rollover individual retirement account (IRA). Understand how IRA rollovers really work, including taxation, as well as the difference between direct and indirect rollovers.

Cost of Living Adjustment: History & Formula

6. Cost of Living Adjustment: History & Formula

The Cost of Living Adjustment (COLA) allows recipients to maintain their purchasing power when there is an increase in the cost-of-living index. Discover its history, the formula for calculating COLAs, and how to determine the new benefit.

Wills: Validity, Changes & Probate

7. Wills: Validity, Changes & Probate

A will is a list of a person's last wishes and describes how their assets should be distributed after they die. Learn about will validity, changes, and probate and discover what should be in a will and if an attorney or template should be used.

Interest in Real Property: Types of Estates

8. Interest in Real Property: Types of Estates

Real property interest refers to the varied types of real property ownership and the property rights associated with each type. Review real property interest, and learn about the types of estates. Explore possessory interests, fee simple absolute, fee simple determinable, fee simple subject, life estate, leaseholds, future interest, and non-possessory estates.

Estate Planning: Taxes, Trusts & Gifts

9. Estate Planning: Taxes, Trusts & Gifts

Estate planning is the process of making a plan for asset distribution after death. Explore the taxes, trusts, and gifts involved in estate planning and learn about assets, wills, and beneficiaries.

Transferring Property Rights to a Personal or Family Trust

10. Transferring Property Rights to a Personal or Family Trust

Transferring property rights through a personal or family trust will always involve a trustor, a trustee, and beneficiaries. Learn how these three parties interact when transferring a trust and the roles they play completing this process.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
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Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
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More Exams
There are even more practice exams available in Retirement & Estate Planning.

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