They may also include deeds to transfer real estate to a living trust and changes of ownership of financial assets to the trustee. Important Considerations in Estate Planning Estate Planning DocumentsĮstate planning documents include wills, trust agreements, beneficiary designations for life insurance, 401(K) plans and IRAs, powers of attorney for healthcare and property, buy-sell agreements, and living wills. When objectives have been defined, documents are prepared and property transferred to put the plan into effect.
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Estate planning involves creating a plan to indicate how your property and healthcare will be managed in the event of a disability, how your estate will be administered at death through a trust you create during your lifetime, or by probating a will where your property will go upon death and how to avoid death taxes if applicable.