To many people estate planning is merely preparing a will to tell your executor what to do with what you own when you die. But, estate planning is more than just drafting a will. It includes tax efficiencies, wealth preservation, asset protection, efficient asset ownership, retirement planning and business succession planning.
Estate planning can include:
- Will. Appoints and directs your executor what to do with your property after your death.
- Trust. Allows you and your successor trustee to handle your assets in private.
- Special Needs Trusts. Provides for a disabled person without loss of government aid.
- Healthcare Power of Attorney.