thoughtful consideration and planning for an individual's future in the area of finances and property. In some cases planning for health care decisions may begin at this time.
The process of planning for the disposal of your property, rather than the process of acquiring it, is known as estate planning. The goal is to plan ahead to protect the estate for heirs, and assure that individual wishes are carried out regarding health care and the distribution of your assets. Estate planning includes:» Health care planning such as writing a living will or naming a health care surrogate» Provision of a durable power of attorney» Tax considerations» The considerations of life insurance and/or long-term care insurance needs The preparation of a will or living trust
A process addressing the orderly handling, administration and distribution of your estate upon your death. Depending on the size of your estate and your objectives, estate planning may involve estate creation and conservation for heirs; the limiting of estate shrinkage; and the creation of adequate liquidity to pay estate settlement costs (including probate, debt repayment and estate taxes). Life insurance can be used to help provide money to meet estate planning objectives.
the development of instructions and documentation so that others can manage a person's assets if he/she dies or becomes incapacitated. Estate planning can include writing wills, naming beneficiaries, creating trusts and preparing for funerals.
Planning for the handling, disposition, and administration of an estate when an owner dies or is disabled.
Planning for the orderly handling, disposition and administration of assets that are left behind after an individual's death. Includes drawing up a will, setting up trusts and figuring out ways to minimize estate taxes.
Developing a plan to transfer all of your property from one generation to the next or within a generation.
The process of putting together a detailed blueprint for administering the disposition of your assets after your death. Estate planning is typically based on the establishment of a last will and testament, and involves financial and legal arrangements designed to fulfill the provisions of that document in accordance with your wishes.
process that includes inventorying your assets and making a will and/or establishing trusts, often with an emphasis on minimizing taxes for the benefit of improving your own or someone else's quality of life.
The total process of planning an estate, including: (a) estate creation and conservation during the owner's life; (b) the minimization of estate shrinkage at death; (c) the creation of adequate liquidity for estate settlement costs; and (d) a plan for proper estate distribution to the owner's heirs.
The consideration and establishment of legal agreements that plan for the smallest taxable estate possible, while ensuring the distribution of property to beneficiaries and others with minimal delay and expense.
Planning of a person's property and possessions through various means such as a will, durable power of attorney, advance directive, etc.
The process of developing a plan that will increase and maintain the financial security of an individual and family by arranging for the conservation and transfer of one's wealth. This process is often accomplished by a team of professionals which may include an attorney, an accountant, a life insurance agent, a trust officer and a financial planner.
The process of developing and implementing a master plan that facilitates the distribution of your property after your death according to your goals and objectives.
Carrying out a person's wishes regarding how their property is to be dealt with on death. The laws of wills, trusts, insurance, property and taxes are all applicable in Estate Planning.
The preparation of a plan of administration and disposition of one's property before or after death, including will, trusts, gifts, power of attorney, etc. see also financial planner, planning.
Estate planning is a phrase that describes strategies implemented with the aim of reducing the amount of inheritance tax that your life insurance beneficiaries would have to pay in the event of your death. Wise estate planning can ease the financial burdens faced by your survivors.
A process by which a person designs a strategy and prepares documents to conserve, protect, and distribute estate assets before and after death for the benefit of loved ones, taking into consideration the effect of state and federal tax and administrative laws and regulations. It can also involve planning for the use of your assets for your care if you become unable to manage your affairs during your lifetime.
A plan for what will happen to an individual or couple's assets and liabilities after death. CaregiverPA Resources - Estate Planning
Estate planning is a process to ensure that when you die, the right funds and assets are passed on to the right people at the right time- via your will or due to the way you have set up ownership of your assets. Estate planning requires the involvement of skilled legal and financial specialists.
Process that includes planning for the present and future use of assets.
A goal-oriented activity that uses tax-minimization t3echniques to provide the greatest possible financial security for an individual and his/her heirs or beneficiaries.
The process of arranging one's personal affairs to provide for death or mental incapacity.
Planning for the management of all of your assets for your benefit and the benefit of your heirs.
Process designed to conserve estate assets before and after death, distribute property according to the individual's wishes, minimize federal estate and state inheritance taxes, provide estate liquidity to meet costs of estate settlement, and provide for the family's financial needs.
The preparation of a plan to carry out an individual's wishes as to the administration and disposition of his/her property before or after his/her death.
The art of reducing or minimizing estate taxes and property subject to probate while passing your property on to loved ones in a way that minimizes time, legal fees, aggravation and other costs.
A financial plan to ensure the transfer of all your assets-both financial, such as fixed deposits and stocks and physical, such as home, after your death to your heirs without any delay or loss.
The art of continuing to prosper when you are alive and passing your property to your loved ones with a minimum of fuss and expense after you die. Planning your estate will involve discussions with Financial Planners, Accountants, and Lawyers and will involve Wills, Trusts, Enduring Powers of Attorney, and Enduring Deeds of Guardianship.
Planning for the management of all of an individual's assets for the benefit of this person and his or her heirs or other distributees.
A process that details the transfer of assets on your death to chosen beneficiaries.
Gives you the opportunity to provide, on an orderly basis, for the distribution of your assets and payment of your debts upon death.
The process of organizing your assets for use during your lifetime and distribution after death in accordance with prevailing state and federal laws.
That which arranges a person's property and estate, taking into account the laws of wills, taxes, insurance, property, and trusts as to gain maximum benefit of all laws and to carry out the persons wishes for the disposition of his or her property upon death.
Preparing for the orderly administration, management and distribution of a person's assets and liabilities during one's lifetime and upon death. In addition to a will, estate planning may include trusts, insurance, and other elements intended to carry out the wishes of the estate owner and improve the estate's value.
refers to the actions which a person may take to arrange their affairs in order to maximise the value of their estate, minimise tax liability and give consideration to what should be included in a legal will, the appointment of an executor, provision for the power of attorney and the use of testamentary trusts.
A plan for the disposition of a person's assets and debts at the time of death and for the preservation of those assets to pass on to the individual's heirs as desired.
The purpose of an estate plan is so that the estate avoids probate and loss of assets from taxation of the estate. An estate plan determines who will care for your children, inherit your assets and in what amounts, who will disburse your assets, and how much your estate will owe in federal income taxes and administration costs. An estate plan could consist of a will, trust account(s), executor and insurance products.
The process of planning for the efficient transfer of assets at one's death. Estate planning begins with preparing a will and may also include naming a power of attorney, establishing trusts and making pre-death gifts.
Trusts can provide a viable solution for those seeking the flexible devolution of wealth. In certain circumstances, trusts assist with restrictive inheritance laws which might otherwise prevail.
The process of planning the transfer of all personal assets at death to chosen beneficiaries.
DefinitionThe process whereby an estate and will are structured so to facilitate easy distribution and finalisation of ones property and wishes at death.
The process of developing a plan to transfer property from one generation to the next, or within a generation (eg., from husband to wife).
The process of arranging for an orderly disposition of assets after death.
Planning for the orderly handling and administration of an estate upon the death of the owner. This usually involves drawing up a will and setting up trusts and insurance, with the intention of minimizing loss to the estate value incurred by estate taxes and administrative expenses.
financial planning services to help participants plan for the transfer of their assets after their deaths. Goals may include reducing estate taxes and providing for the participant's wishes.
Planning in order to minimize taxes due at death and the disposition of the estate assets and settlement of liabilities.
The process of arranging the efficient transfer of an individual's assets at the time of his death to his chosen beneficiaries.
The act of planning for the eventual distribution of your assets at the time of your death.
Making a plan for your estate. Usually, you decide who will handle your property if you cannot, and where you want it to go when you die.
Planning for the orderly handling, disposition, and administration of an estate when the owner dies. Estate planning includes drawing up a will, setting up trusts, and minimizing estate taxes, perhaps by passing property to heirs before death or by setting up a testamentary trust.
A procedure for the accumulation, conservation and distribution of personal wealth. Estate planning seeks to transfer the estate to heirs with a minimum loss in taxes and other expenses. Life insurance is typically used as part of an estate plan. Depending on the size and nature of the estate, an individual should solicit the expertise of an accountant, financial planner, attorney and life insurance agent.
More than just the writing of a will, estate planning is the preparation of a plan to carry out an individual's wishes as to the disposition of her property before or after her death. See Retiree Portfolio Archives for discussions of such topics as revocable living trusts, living wills, and designating IRA beneficiaries.
A type of planning to help a client conserve, as much as possible, the personal assets that the individual wants to pass on to her heirs at her death.
The collection of steps one takes to provide loved ones with the protection they need after one dies. This involves appointing guardians, executors, and planning for the most equitable and tax efficient distribution of assets.
the process of arranging one's personal and financial affairs.
The process of arranging one's property and affairs so as to ensure their current management and ultimate disposition in the most efficient, effective, economical, and private manner, taking into consideration the effect of state and federal tax and administrative laws and regulations.
Preparing such documents as a will, trust and other arrangements to control the passing of one's property at death.
Steps you can take while living to determine what happens to your property when you die.
An insurance program designed not only to provide funds for the prospect's dependents upon the death of the prospect, but also to conserve, as much as possible, the personal assets that the prospect wants to bequeath to heirs. Estate planning usually involves accountants, lawyers, and the trust officers of banks, as well as insurance agents.
The legal preparations by which one who dies, owes the smallest tax and probate fees possible, with the ability of passing on the property to the beneficiaries with the least amount of difficulty and expense.
General phrase relating to personal financial planning, the emphasis being on passing on intact as much of one's estate/possessions on death with as little tax as possible being paid.
The arrangements you make about distributing your assets after your death.
Plan that lays out how an owner's property and possessions will be divided and administered after her death; can include a will and various trusts.
Please see "Ways to Give - Estate Planning."
The preparation of a plan of administration and disposition of one's estate using a will, trusts, gifts, power of attorney, etc.
It's an act of passing your property to the ones you love wth a minimum of expenses after you die. It generally involves writing a will, living trust, healthcare directives etc.
Estate planning is organising your assets and other investments to minimise any obligation to pay inheritance tax when you die and ensuring any surviving spouse or partner has appropriate financial resources.
The process of planning for the orderly administration and disposition of assets after the owner dies.
The art of continuing to prosper when you're alive, and passing your property to your loved ones with a minimum of fuss and expense after you die. Planning your estate may involve making a will, living trust, healthcare directives, durable power of attorney for finances or other documents.
Formal, written arrangements for handling the possessions and assets of people after they have died.
executor easy monetary policy
Arranging to make sure your assets pass in an orderly and efficient manner to those who you want to have them after your death.
Estate planning is the process of accumulating and disposing of an estate to maximize the goals of the estate owner. The various goals of estate planning include making sure the greatest amount of the estate passes to the estate owner's intended beneficiaries, often including paying the least amount of taxes and avoiding or minimizing probate court involvement. Additional goals typically include providing for and designating guardians for minor children and planning for incapacity.