What it means:
Estate planning law focuses on managing and transferring a person’s assets during life and after death, while minimizing taxes, court involvement and family disputes.

Key points:

• Governed primarily by state law
• Effective estate planning avoids or simplifies probate
• Applies regardless of wealth level

Common estate planning tools:

• Wills
• Trusts (revocable & irrevocable)
• Powers of attorney
• Advance healthcare directives

Whom it applies to:

• Individuals planning for incapacity or death
• Families with minor children
• Homeowners and business owners