Personal Finance 101: Estate Planning Basics

Estate planning is the process by which you create a plan for the management of your property and money after you have passed away. Almost always a Will is part of the estate planning process.

Some points to address are:

  • Who should get my money and property when I’m gone?
  • Is there enough money to provide for my family?
  • Who will manage my estate?
  • Are there tax-savings opportunities?
  • Is there a problem of succession to control of a family business or farm?

Knowing the answers to these questions will allow for a smooth estate planning process. It would be in your best interest to contact a lawyer for legal advice for this process. The questions listed above are not all inclusive and everyone’s situation is different.

You want to get a plan that is tailored to your specific circumstance.

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About The Author

Keroy King

Keroy King is a Financial Educator, Podcast Host and founder of www.lifethenfinance.com community where she coaches women to overcome personal and financial obstacles that are holding them back so they can quickly and effectively live a full-filled and purpose driven life. Even when they think the odds are stacked against them.

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