What is Estate Planning?

Estate planning is the process by which a range of personal financial matters is determined, including how your property will be transferred upon your death. The estate planning process often involves the advice and counsel of several professionals including an attorney, a tax professional, a financial planner and a life insurance advisor. These advisers work together to structure an arrangement that best suits your objectives.

At the core of an estate plan are various documents that specify what is to happen to your property and assets. These documents often include a Will, a Trust, and an Advance Health Care Directive, or “Living Will.” Each of these documents is explained in greater detail on the next few pages.

Next section: Living Wills