Formulate a Financial Plan

Know Your Net Worth

Manage & Minimize Debt

Accumulate Assets

Budget to Live Within Your Means

Understand Investing Basics

Plan for Retirement

Insure People & Property

Deal with Financial Advisors

Review Your Employment Contract

Make Plans for Your Estate

Make Good Decisions


Estate planning is the process of accumulating, managing, conserving and transferring wealth, taking into account tax and legal considerations. In this chapter we cover basic estate planning documents including Wills, Trusts, and Advance Health Care Directives. We also discuss asset protection planning.  

In the context of our pillars of wealth discussion, estate planning helps us to protect and grow our pillars and to make plans for transferring them to heirs, charitable organizations, etc. This content is also relevant in the event you are called upon to assist elderly parents in making their estate planning choices.

Estate planning can be very complex. You owe it to yourself and your family to make good estate planning choices.

Consult a qualified and properly licensed attorney to ensure your estate planning documents are appropriate to your needs and circumstances, and consistent with the laws of your home state.


Related Link:

AARP: 17 States With Estate or Inheritance Taxes