Estate planning is the preparing of legal documents to carry out your testamentary intent. Estate planning does not just take into account the high net worth individual who is primarily concerned about estate taxes, but rather planning for everyone’s testamentary intent. Testamentary intent is what you want to happen when you die. Notwithstanding, the general definition estate planning can include sophisticated gifting options to reduce one’s taxable estate and avoid or diminish federal and state estate taxes.
My small law practice always gets busy come January since "getting your will done" is just one of those adult things people think about at the beginning of each new year. For all of those that have already have completed their will it may be a good use of your time to review the contents of the will since life changes. Items to Think About When Reviewing Your Will While this list is no where near exhaustive it should at least provide you with some ideas of what to look within your document and even outside your document when reviewing your Will. [...]