Estate planning is the process of providing for the orderly succession and distribution of your assets during your lifetime and after your death. The estate planning process involves:

- Making an inventory of your assets, their value, and the manner in which they are titled.

- Identifying your goals and objectives with respect to the distribution of your estate during your lifetime and after your death.

- Preparing documents such as Wills, Durable Powers of Attorney, Advance Medical Directives or Living Wills, and, in some cases, Trusts, to carry out your goals and objectives.

- Selecting individuals and/or institutions, such as trust companies, to serve as Executor, Trustee, Guardian, or Agent under your estate planning documents.

- Coordinating the titling of assets and beneficiary designations for retirement plans, IRAs, life insurance, and annuities.

- Executing your estate planning documents.

- Reviewing and revising your estate plan as your family and financial circumstances change and evolve.

A financial advisor, such as Steve Margulin, can help coordinate the various strategies involved in the disposition of family wealth and the sheltering of assets from income, gift, estate, and generation-skipping transfer taxes. The specifics are areas to be covered in your financial plan, even if there will be no Estate Tax due upon your death. If Estate Tax does or may apply in the future, proper planning will minimize the impact.