Estate Planning

When the owner of an estate dies, an orderly handling, disposition, and administration of the estate is required. The preparation for this event is called estate planning. Estate planning involves the drafting of wills, the establishment of trusts, beneficiary designations, powers of appointment, and various forms of property ownership. The primary goal of estate planning is to ensure that the greatest amount of the estate passes on to the beneficiaries as intended by the estate owner. Another common goal is the avoidance of various forms of taxation. Additional goals typically include providing for and designating guardians for minor children and planning for incapacity.