Introduction to Estate Planning
Wherever you go these days, it seems you'll hear someone discussing "estate planning".
Whether it's an attorney on the radio, a financial planner on the television or
a host of Web sites, estate planning seems to be on many minds. (Indeed,
try searching "estate planning" on Google and you'll receive a list of nearly 10
million Web pages!)
At this point, you may be asking yourself "what exactly is an 'estate'?" The National
Association of Financial and Estate Planning (NAFEP) defines an estate as the "total
property owned by an individual prior to the distribution of that property under
the terms of a will, trust or inheritance laws." Total property, as NAFEP uses that
term above, means all assets, including real estate, as well as physical assets
like automobiles, equipment, household items, and so forth. It also includes financial
assets like securities, promissory notes or receivables, bank accounts, cash and
insurance policies.
Having said all that, it is fairly clear that your estate is, essentially, everything
you own, so you can see why estate planning is a topic that gets discussed a lot.
With a change having come to the United States' presidency as of 2009, changes in
the laws that affect estate planning may be on the horizon, too, making the topic
of estate planning both very important and very timely.
This Web site is intended for general information purposes only. It does not nor is it intended to constitute legal, tax or investment advice. United Financial Systems, Corporation is not a lawyer, registered investment advisor or investment advisor representative, and is not engaged in the practice of law or the business of investment advice.