Estate Planning

Estate planning is the management of a persons assets in the case of any incapability or death. The way the assets are to be disposed of is determined in estate planning. This largely depends on the goals of the clients, which can be simple or complex.

Estate planning includes a lot of devices such as wills, beneficiary designations, powers of appointment, gifts, property ownership, power of attorney, business successions, trusts, etc.

Estate planning involves how a persons /clients assets will be managed after his death. This also includes managing the financial obligations of the individual incapacitated. Assets that makeup to the estate planning are a house, bank balances, life insurance policies, any other physical property, cars, valuable ornaments, and anything that is of great value. The process of estate planning includes writing a will, deciding the executor of the estate, updating beneficiaries for life insurance and retirement policies etc. and setting up a power of attorney to look after assets and investments.