WHAT IT IS:

Estate planning is the act of preparing for the transfer of a person’s wealth and assets after his or her death. Assets, life insurance, pensions, real estate, cars, personal belongings, and debts are all part of one’s estate. Estate plans must be written, signed, and notarized by the person who owns the estate.

HOW IT WORKS (EXAMPLE):

Many people think they don’t need to do any sort of estate planning, and they think that the existence of a simple will does the job.Continue Reading