What is an Estate plan ?

An estate plan is a premeditated, systematic process of planning for the accumulation, conservation, and distribution of an estate using the most efficient and effective methods for accomplishing the goals of the owner. Tax considerations are usually a significant part of the effort. At the death of the owner, the estate plan insures the distribution of the estate with minimum administration costs and taxes, according to the wishes of the owner. Minimizing the cost of distributing an estate can only be accomplished by anticipating expenses and planning ways to avoid them before death occurs. Speak to your local CPA about the strategies to accomplish your plan.