Estate Planning
/ˈɛsteɪt ˈplænɪŋ/
Definitions
- (n.) The process of arranging the management and disposal of a person's estate during their life and at death, to minimize taxes and ensure assets are distributed according to their wishes.
Effective estate planning can help avoid probate delays and reduce estate taxes.
Related terms
Commentary
Estate planning involves drafting legal documents like wills and trusts, balancing tax considerations with personal wishes for asset distribution.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.