Question

What is the purpose of making an estate plan?

Answer 1

Estate planning involves much more than simply drafting a will. The primary purpose of an estate plan is to help you examine your financial needs and assets in order to make sure that your heirs are provided for in the best possible way, including lifetime planning as well as disposition of property at death.

Answer 2

The purpose of making an estate plan is to minimize the taxes at your death. Moreover, you want to keep your assets out of probate. In addition to that, you want to create a smooth transfer of assets to the next generation.