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ESTATE
PLANNING
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.
Additional goals typically include providing for and designating
guardians for minor children and planning for incapacity.
The tools involved in estate
planning include the will,
various types of trusts,
powers of appointment,various forms of property ownership (JTWROS,
tenants
in common, etc), gifting, and powers of attorney.
Above excerpt taken from wikipedia.org
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