what is an estate plan

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An estate plan is acollection of legal documents that lays out your intentions and expectations for two general situations:What happens to your assets after you pass away What happens when you can no longer take care of yourself or your estate

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  • What is the purpose of an estate plan?

  • Estate planning is the preparation of tasks that serve to manage an individual’s asset base in the event of their incapacitation or death. The planning includes the bequest of assets to heirs and the settlement of estate taxes. Most estate plans are set up with the help of an attorney experienced in estate law. Next Up.

  • What is included in the estate planning process?

  • Estate planning is the preparation of tasks that serve to manage an individual’s asset base in the event of their incapacitation or death. The planning includes the bequest of assets to heirs and the settlement of estate taxes. Most estate plans are set up with the help of an attorney experienced in estate law. Estate Planning Basics.

  • What is estate planning and estate tax?

  • The estate includes a person’s belongings, physical and intangible assets, land and real estate, investments, collectibles, and furnishings. Estate planning refers to the management of how assets will be transferred to beneficiaries when an individual passes away. Estate taxes may be levied on the value of one’s estate at death.

  • What is an estate?

  • An estate is the collective sum of an individual’s net worth, including all property, possessions, and other assets. Discover more about estates here.

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