Estate planning has two parts.The second part of estate planning consists of:

Question

Quizplus · Accepted Answer

The second part of estate planning involves transferring your estate in the manner you have specified, which includes creating a will, establishing trusts, naming beneficiaries, and other legal arrangements to ensure that your assets are distributed according to your wishes after you pass away. Building your estate through savings, evaluating your assets and liabilities, and buying life insurance are all important components of estate planning as a whole, but they do not constitute the second part specifically. Choosing an attorney can be an important part of estate planning as well, particularly if you need legal advice or representation in creating your estate plan, but it is not the second part of estate planning in and of itself.

Estate Planning Has Two Parts