QUESTION 1 1.1 What is estate planning, and what are the three processes that it involves? 1.2 Discuss three (3) approaches to estate planning that family 1.3 Briefly describe the five-step estate planning process. QUESTION 2 Briefly discuss why is it so important to have a formal governance structure for the business and the family. (10) QUESTION 3 What are the three (3) capital sources that must work together in an owner's plan? (6) QUESTION 4 4.1 The DuPont method is an excellent way to quickly assess the financial strengths of the business. Which three areas does it focus on? 4.2 Describe six (6) underlying factors that impact on value. (6) Total: 40