The process of arranging for the management and disposal of a person's estate during their life and after death, often to minimize taxes.

The process of passing on assets from one generation to another, often involving strategies to minimize tax liabilities.

A legal arrangement where one party holds assets for the benefit of another, often used to manage estate taxes and protect assets.

The act of donating assets or funds to charitable organizations, often integrated into estate plans for tax benefits.

Methods employed to minimize tax liabilities through deductions, credits, and other legal means.

A tax levied on the transfer of assets upon death, calculated based on the value of the deceased's estate.

A trust that can be altered or revoked by the grantor during their lifetime, providing flexibility in estate planning.

A trust that cannot be modified or revoked after its creation, often used to remove assets from the taxable estate.

A charitable giving vehicle that allows donors to make a charitable contribution, receive an immediate tax deduction, and recommend grants over time.

A trust that provides income to the donor or beneficiaries for a specified period, with the remainder going to a charity.

A partnership structure that allows family members to pool assets and manage them collectively, often used for estate planning.

The process of preparing for the transfer of leadership and assets in a family business, ensuring a smooth transition.

Techniques used to transfer wealth to beneficiaries during the giver's lifetime, often to reduce estate tax burdens.

The effects that tax laws have on financial decisions and strategies, influencing estate planning choices.

The process of effectively conveying estate planning options and strategies to clients, ensuring understanding and trust.

The interactions and relationships among family members that can impact estate planning decisions and strategies.

Strategies designed to protect an individual's wealth from claims, creditors, or legal judgments.

The legal process of validating a will and distributing a deceased person's assets, which can be time-consuming and costly.

A legal document that outlines a person's preferences for medical treatment in case they become unable to communicate.

A legal document that grants one person the authority to act on another's behalf in financial or legal matters.

The process of managing and distributing a deceased person's estate according to their will or state law.

Expenses that can be subtracted from total income to reduce taxable income, often used in estate planning.

Contracts or documents that represent a legal agreement regarding financial transactions, such as stocks, bonds, and trusts.

The ease with which an asset can be converted into cash without affecting its market price, important in estate planning.

An arrangement where an individual retains the right to use a property during their lifetime, while transferring ownership to heirs.