What is estate planning?
Why it is so important?
An estate plan is the process of planning for the orderly administration and disposition of property after the owner dies.
Estate planning involves making plans for the transfer of your estate after death. Your estate is all the property that you own. It can include cash, clothes, jewelry, cars, houses, land, retirement, savings accounts and so on.
Estate planning India includes making a will, setting up a trust or making a nomination and even life insurance. Estate planning services in India have gone to a new level Video taping of wills, making of trusts and even a probate (Will certified in a court) is the new way.
Online estate planning such as making of an online will as well as transfer of digital assets and even email accounts is an important business.
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Objectives and goals of Estate Planning
- Making sure most of the estate is transferred to your beneficiaries
- Paying the least amount of taxes on your estate
- Assigning guardians for minor children, if any
- Helping to reduce or avoid conflict among family members.
- Ensuring that his/her children have the legal guardian of their choice.