What is Estate Planning?
We answer this question in the brief video found here. For the text of the video, click on the sidebar titled "What is Estate Planning?"
Education is the first essential in all things relating to estate planning. Accurate knowledge blesses people. Knowledge is power. These are terms found throughout our site. But we do not just talk about education. We provide education. Browse our site. Does any estate planning site give you more, in-depth knowledge or access to estate planning knowledge than this site? It should be clear we really believe in education. To this end, we have also produced a unique DVD estate planning course you can study at your leisure, with no pressure, at minimal cost. We call it Estate Planning Essentials. For more information, including sample clips from the presentation, click here on Estate Planning Essentials.
The Four Estate Essential Pillars of Successful Estate Planning
Successful estate planning rests on four essential pillars: Education, Documents, Funding, and Maintenance.
- Education: Yourself, Fiduciaries, and Beneficiaries. If you, your fiduciaries, or your beneficiaries are ignorant of estate planning law, your planning is much more likely to fail.
- Documents: Customized and Accessible. Your documents must address every potential scenario unique to your situation and they must explain in detail how you want your estate managed. Further, although documents may be long, they must be accessible or well organized.
- Funding: Ownership and Beneficiary Designation. Funding your plan means appropriately changing ownership and beneficiary designations.
- Maintenance: Communication and Reviews. Successful estate planning requires that you communicate effectively with your fiduciaries and beneficiaries about your plan and that review your plan regularly.
Please note how these four essential pillars are repeated and emphasized in various ways throughout our site. These are core, fundamental principals:
- Education (through customized consultations or studying Estate Planning Essentials).
- Customized Documents.
- Funding (also known as Transfer Work)
- Maintenance (communication with fiduciaries and beneficiaries and educated ownership of your plan in regular reviews).
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