Estate Planning
Estate planning is the process of accumulating and disposing of an estate to maximize the goals of the estate owner.
The various goals of estate planning include making sure the greatest amount of the estate passes to the estate owner's intended beneficiaries, often including paying the least amount of taxes and avoiding or minimizing probate court involvement.
Additional goals typically include providing for and designating guardians for minor children and planning for incapacity.
Estate Planning Tools
The tools involved in estate planning include the will, various types of trusts, beneficiary designations, powers of appointment, various forms of property ownership (Joint tenancy, tenancy in common etc), gifting, and lasting powers of attorney.
