How Important Is It Really?

Estate planning is the process by which an individual or family arranges the transfer of assets in anticipation of death. An estate plan aims to preserve the maximum amount of wealth possible for the intended beneficiaries and flexibility for the individual prior to death.

3 primary goals of estate planning are:

  • 1

    Maintain control while living

  • 2

    Distribute responsibly

  • 3

    Minimize expenses

3 major estate planning obstacles to avoid are:

  • 1

    Probate

  • 2

    Conservatorship

  • 3

    Estate Taxes

There are several main components to an estate planning package, all of equal importance.