Are you thinking about an estate plan but not certain what might be included in an estate plan? Most people understand that wills and trusts can be used to transfer a person’s property after the person passes away. But an estate plan considers an individual’s or couple’s specific needs and develops a customized plan with will(s), a trust(s), powers of attorney, and other documents that work together to achieve the individual’s or couple’s goals. Although it primarily involves the distribution of property to beneficiaries and naming guardians for minor children, estate planning is related to financial planning and tax planning.
