EstatePlanningis simply the process of making it clearly known how you want your estate to be handled after you pass or if you檙e incapacitated and unable to handle things on your own.
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What is estate planning and why is it important?
BREAKING DOWN ‘Estate Planning’. Estate planning involves planning for how an individual assets will be preserved, managed, and distributed after death. It also takes into account, the management of an individual properties and financial obligations in the event that s/he becomes incapacitated.
How are estate plans set up?
Most estate plans are set up with the help of an attorney experienced in estate law . Estate planning involves determining how an individual assets will be preserved, managed, and distributed after death or in the event they become incapacitated.
What is included in an estate plan?
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 .
What does an estate planning attorney do?
An estate planning attorney is a professional with knowledge and experience in estate planning. They can help you determine what you have, what you need a plan for, and who should be part of your plan. An attorney will help you write legally binding documents that people won be able to contest after your death.