ESTATE PLANNING

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Estate Planning

Estate Planning is the process of making sure your personal assets are handled according to your wishes after you pass on or become incapacitated it involves reducing your estate's exposure to taxes and other forms of liability  while also avoiding probate as much as possible. 

Key Takeaways

  • Estate planning involves determining how an individual’s assets will be preserved, managed, and distributed after death or in the event they become incapacitated.
  • Planning tasks include making a will, setting up trusts and/or making charitable donations to limit estate taxes, naming an executor and beneficiaries, and setting up funeral arrangements.
  • Various strategies can be used to limit taxes on an estate, from creating trusts to making charitable donations.