Estate planning involves identifying who you want to give your assets to and when (during your lifetime, at death or sometime after death).
Your estate plan may also include:
- Ways to meet the financial needs of your family members if you die or become incapable of managing your affairs.
- Steps to minimize taxes that you or your estate might pay.
- A plan to sell or pass on your ownership stake in a business.
Documents commonly used in estate planning
A will is the cornerstone of an estate plan, but your plan may also include: