what is an estate plan

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Anestateplanis a set of legal documents that present your wishes for the distribution of property, guardianship of minor children, and even healthcare decisions. The estateplanningprocess can be complicated, but FindLaw’s goal is to empower you to make decisions with confidence.

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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 does a successful estate plan look like?

  • A successful estate plan also includes provisions allowing your family members to access or control your assets should you become unable to do so yourself. Estate planning is not only for the wealthy攅verybody can benefit from ensuring their assets and finances are properly taken care of after their death.

  • What is the impact of good estate planning on a family?

  • Estate planning is not just for the wealthy either, although people who have accumulated wealth may think more about how to preserve it. Good estate planning is often more impactful for families with modest assets because the loss of time and funds as a result of poor estate planning is more detrimental.

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