Estate planning generally involves deciding how to handle your estate upon your passing. Assets, life insurance, real estate, automobiles, pensions, personal belongings, and even debts can be part of a person’s ‘estate.’ So, when people come to an attorney to ask, “What should I plan for?” an appropriate answer would be—everything you own and value and/or are responsible for (e.g. debt).”
Yet, that’s just a start. Research shows there are at least four essential ‘strategies’ you might want to consider before meeting with your estate planning attorney to produce documents that will protect your wishes after you pass away.