The practice of planning how wealth will be allocated on or before your death is

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Estate planning involves the process of deciding how your assets will be distributed after your death, through methods such as wills, trusts, and beneficiary designations. Asset allocation refers to the distribution of investment assets to achieve a specific financial goal, while intestacy planning involves the distribution of assets in the absence of a will. Will planning is a component of estate planning, but is not comprehensive enough to encompass the entire process.

The Practice of Planning How Wealth Will Be Allocated on or Before