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.

About The Author

Keroy King

Keroy King is a Financial Educator, Podcast Host, Keynote Speaker & Empowerment Expert, residing in Los Angeles, California and the Founder of "Life Then Finance" a community where she coaches individuals 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. She is also an online course creator & instructor of several personal finance and personal transformation online courses.