Many people mistakenly think that estate planning involves only the drafting of a last will and testament. However, estate planning involves financial, business, tax, and medical planning. Estate planning can help you determine:
- How and by whom your assets will be managed for your benefit during your lifetime if you ever become unable to manage yourself or your affairs.
- When and under what circumstances it makes sense to distribute your assets during your lifetime.
- How and to whom your assets will be distributed after your death.
- How and by whom your personal care will be managed and how health care decisions will be made during your lifetime if you become unable to care for yourself.