Estate Planning: What is it?
Estate Planning Estate planning is the process of managing your assets during your lifetime and after your death. It can help you to protect your assets in a number of ways, including: Diminishing the risk of your assets being taken by creditors . If you have debts, a well-drafted will can help to ensure that your assets are not used to pay off those debts. You can also use trusts and other legal structures to protect your assets from creditors. Avoiding the intestacy laws. If you die without a will, your assets will be distributed according to the intestacy laws. This may not be what you want, as the intestacy laws may not give your assets to the people you want to receive them. Providing for your loved ones. A well-drafted will can ensure that your assets are distributed to your loved ones in the way that you want. You can also use trusts and other legal structures to provide for your loved ones' financial needs, such as their education and healthcare. Achieving your ...