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What is Estate Planning?

IndianMoney.com Research Team | Posted On Tuesday, March 24,2009, 07:34 PM

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What is Estate Planning?

 

 

Estate planning is a lifelong process in which you assess your situation and plan for the future. It includes planning for your retirement, possibility of disability, and for death. The estate planning process needs that you consider a wide range of legal, financial, emotional, and logistical issues.

Estate planning objectives

Estate planning can be a positive experience, since it involves appraising your situation and planning for your future. Even though most people also find it unpleasant to think about the possibility of disability or death, advance planning is also a way to show your love and to reduce potential suffering later.

In other words, estate planning is a process of helping one in accumulating, conserving, distributing and ensuring that the estate reaches the right person who was nominated as the beneficiary. More specifically, it is the process of making appropriate preparations for the protection, conservation and distribution of one's assets for the benefit of the loved ones. An estate plan ultimately, depends on the size of your estate and how broad your needs are.

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