Estate Planning is the term given to any form of planning for the inevitability of death. It can be as little as taking out life insurance to pay for the costs of a funeral, preparing a Last Will or more comprehensive such as creating trusts and completing other related estate planning documents.
The goal of estate planning is to ensure the greatest amount of an estate's pass to the estate owner's intended beneficiaries by paying the least amount of taxes and avoiding or minimizing probate costs. Additional goals typically include providing for and designating guardians for minor children and planning for incapacity.
