Chapter 13

The Basics on Estate Planning


check Getting a big-picture view of estate planning

check Deciding whether to use an estate planning expert

check Looking at estate planning strategies

check Reviewing questions you need to consider

check Understanding how estate taxes work

check Seeking advice and hiring an estate planner

Estate planning is bewildering, confusing, and intimidating to most people. To complicate matters, many people encounter quite a bit of misinformation and misunderstanding. The result: Few people have estate plans and among those who do, many are not up-to-date.

However, an estate plan is an essential part of life because it determines what happens to your assets after you die. An estate plan isn’t simply a will or life insurance policy. And estate planning involves more than avoiding taxes. You need an estate plan even if your estate isn’t valuable enough to be hit with estate ...

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