Estate Planning Trusts

Estate planning is the practice of arranging your financial and legal affairs so that, after you die, your assets are distributed per your wishes, taxes are minimized, and family conflict is prevented. Trusts are legal structures that hold assets and distribute them according to your instructions. A typical estate plan includes: will (legal document with final wishes), trusts (structures holding assets), powers of attorney (legal authority if you're incapacitated), healthcare directives (wishes if you're unable to communicate), and beneficiary designations (life insurance, retirement accounts).