Confused by estate planning and an estate planning definition? First, understand an estate plan is not just a Will. A Will is just one component of your estate plan. An estate plan considers your personal, family and financial issues relating to control and transfer of your assets during life and after death. An estate plan considers tax and business planning issues, the transfer of assets, matters of pension, governmental benefits, medical care, family support and special needs considerations. An estate plan is more than just a document, it embodies your wishes and your hopes for your loved ones.
Clients at all income levels and with all kinds of families have estate planning needs. Based on the client’s overall objective, family situations, and their gross estate, a client’s objective may be accomplished through a will, a trust, powers of attorney, health care directives, long-term health care, end of life care, life insurance and other planning vehicles.
Attorneys at High Swartz LLP assist our clients in estate planning, designing and implementing plans that effectively protect assets and provide for the smooth transfer of legacies to heirs. Depending on a client’s circumstances, an estate planning definition may also include a spousal trust, children’s trust, charitable remainder trust, insurance trust, disability or special needs trust, revocable living trust or an irrevocable trust, as well as a prenuptial or a marital agreement.