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What
Is Estate Planning
Estate Planning
starts with an analysis of ---
- Your
assets
- Your
liabilities
- Your present
and future needs and desires
- The present
and future needs and desires of your family and
relatives
- Your and
their future prospects.
Estate planning
consists of planning and structuring your assets to meet
those needs and desires. Some of the considerations are
--
- Determining
who is to get your assets
- Naming the
executor of your will
- Naming the
trustee of any trusts you may create
- Naming the
guardian of your children, if both you and your spouse
die
- Naming
someone who will care for you and your assets if you are
disabled.
Wealth
building
- Providing for
your children's education
- Providing
insurance coverage for illness, disability or
death
- Providing for
investment and management of your assets after your
death
- Tax planning
to reduce income and estate taxes
- Avoiding
probate.
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