An estate is the net worth of a person's assets. Estate planning is the process of anticipating and arranging for the reattribution of those assets. There is no easy time to discuss the issues that arise at the end of life. But waiting only complicates the inevitable decisions that have to made. Planning ahead can alleviate stress and mitigate conflicts.
Estate planning is an important part of taking care of your loved ones. Making sure that there are written instructions can make the grieving process easier, both mentally and emotionally. Becoming knowledgeable on the areas surrounding estate planning, which encompasses more than just a will, can be very beneficial to ensure you have an appropriate plan.
"Estate planning is more than just writing a will. Done right, organizing your assets can help avoid family fights and prevent a majority of your estate from going to the government later. But smart estate planning can be complex, involving living wills/health care directives, various trusts and other legal documents."
– New York Times
If you do not express your wishes through a will, health care directive or other estate planning tools, the laws of the state will determine who shall care for you, who will manage your affairs, care for your children, receive your possessions and assets.
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