What is estate planning?

What is estate planning?

Home ยป What is estate planning?

I like to define estate planning as having two basic components to it. First, there's the lifetime planning component to it, and then there is the after you've passed away component to it. There are specific documents that are only in effect while you are alive, during the lifetime planning component, very important documents such as a Florida durable power of attorney. Then, after you've passed away, there are certain other legal documents, such as a last will and testament or a revocable living trust, which is important for making sure that your estate is administered and that the assets go to the persons that you want to have it go to, and have the appropriate person in charge to make sure that, that is overseen and the directions that you have given are followed through on.