Estate Planning

Estate Planning refers to the process of arranging for the management and disposal of an individual's estate during their life and after death. This skill involves understanding legal documents such as wills, trusts, and powers of attorney, which facilitate the distribution of assets according to the individual's wishes. Knowledge of Estate Planning is used to minimize taxes, avoid probate, and ensure that beneficiaries receive their intended inheritance, while also addressing potential healthcare and financial decisions in the event of incapacity.