Planned property transfers
Estate planning is the process of organizing and managing an individual’s assets and affairs to ensure that their wealth, property, and personal wishes are handled efficiently after their death or in the event of incapacitation. It involves creating legal documents such as wills, trusts, powers of attorney, and healthcare directives that outline how assets will be distributed, debts settled, and guardianships or conservatorships established if necessary.
Estate planning can also include strategies to minimize estate taxes, protect assets from creditors, and provide for loved ones, such as minor children or dependents with special needs. The overall goal of estate planning is to preserve wealth, reduce uncertainties, and ensure that the individual’s wishes are honored while making the process as smooth as possible for beneficiaries.