"Estate planning is the process of anticipating and arranging for the management and disposal of a person's estate during the person's life in preparation for a person's future incapacity or death."
Process of managing and distributing a person's assets after their death.
Estate Planning Overview: A comprehensive introduction to the various elements of estate planning, such as wills, trusts, and powers of attorney.
Probate: An overview of what probate is, how it works, and how it can affect estate planning.
Trusts: The different types of trusts, including revocable and irrevocable trusts, and their benefits in estate planning.
Wills: The purpose of a will, the validity requirements, and how it can be used to distribute assets after death.
Powers of Attorney: The different types of powers of attorney, their importance in estate planning, and how they function.
Inheritance laws: The laws governing the inheritance of assets, including intestacy laws and laws that govern property ownership.
Estate taxes: The federal and state laws surrounding estate taxes, and how they can impact estate planning.
Beneficiary designations: Understanding the importance of beneficiary designations on accounts such as retirement plans and life insurance policies.
Charitable giving: Strategies to maximize tax benefits involved in estate planning.
Guardianship: Planning who will be responsible for minor children, including naming a guardian in the event of the parents' death.
Business succession: Business succession planning methods and strategies.
Long-term care planning: Insurance, Medicare/Medicaid, and other options for long-term care expenses.
Ethical considerations: The ethical considerations involved when developing an estate plan or administering an estate.
Estate planning for blended families: Unique considerations for blended families, stepchildren and ex-spouses.
Digital asset planning: Understanding and planning for digital assets, including email accounts and social media profiles.
Estate planning for individuals with special needs: Long-term planning & financial strategies for individuals with special needs.
Family limited partnerships: An advanced strategy for transferring assets, managing assets, and lowering estate taxes.
Domestic Partner Rights: Estate planning strategy for couples in common-law or domestic partnerships.
Medical decision-making: Advance directives, health care proxies, and other documents to help with medical decision-making in the event of disability or incapacity.
Wills: A legal document that specifies who will receive your assets upon your death. It allows you to name an executor to manage your affairs and appoint a guardian for your minor children.
Trusts: A trust is an arrangement in which one person holds property for the benefit of another. Trusts can be established during your lifetime or upon your death, and they can be used to manage and distribute your assets.
Power of Attorney: A document that authorizes someone to act on your behalf if you become incapacitated. It can be limited or general, depending on your needs.
Living Will: Also known as an advance healthcare directive, a living will specifies your wishes regarding medical treatment if you become unable to make decisions for yourself.
Guardianship: A legal arrangement in which a court appoints someone to care for a minor child or an incapacitated adult.
Asset protection planning: Strategies and tools that help protect your assets from creditors and other legal claims.
Estate tax planning: Strategies and tools that help reduce or eliminate estate taxes.
Charitable planning: Strategies and tools that allow you to support charitable causes while receiving tax benefits.
Business succession planning: Planning for the transfer of a business to the next generation, including buy-sell agreements and other legal documents.
Special needs planning: Planning for the care and financial support of a loved one with a disability.
Probate: The legal process of settling an estate and distributing assets to heirs after a person dies.
International estate planning: Planning for the transfer of assets across borders and the implications of different tax systems and inheritance laws.
"The planning includes the bequest of assets to heirs, loved ones, and/or charity, and may include minimizing gift, estate, and generation-skipping transfer taxes."
"Estate planning includes planning for incapacity, reducing or eliminating uncertainties over the administration of probate, and maximizing the value of the estate by reducing taxes and other expenses."
"The ultimate goal of estate planning can only be determined by the specific goals of the estate owner, and may be as simple or complex as the owner's wishes and needs direct."
"Guardians are often designated for minor children and beneficiaries with incapacity."
"The process of anticipating and arranging for the management and disposal of a person's estate during the person's life."
"The bequest of assets can be directed to heirs, loved ones, and/or charity."
"Estate planning may include minimizing gift, estate, and generation-skipping transfer taxes."
"Estate planning aims to reduce or eliminate uncertainties over the administration of probate."
"Estate planning maximizes the value of the estate by reducing taxes and other expenses."
"The complexity of estate planning depends on the owner's wishes and needs."
"Estate planning is done during a person's life in preparation for future incapacity or death."
"Designating guardians for minor children is a crucial part of estate planning."
"Estate planning may include minimizing gift, estate, and generation-skipping transfer taxes."
"Estate planning aims to reduce or eliminate uncertainties over the administration of probate."
"The ultimate goal of estate planning can only be determined by the specific goals of the estate owner."
"The planning includes the bequest of assets to heirs, loved ones, and/or charity."
"Estate planning maximizes the value of the estate by reducing taxes and other expenses."
"The ultimate goal of estate planning can be as simple or complex as the owner's wishes and needs direct."
"Guardians are often designated for beneficiaries with incapacity."