The main goal of estate planning is to eliminate uncertainties over the administration of a probate and maximize the value of the estate by reducing taxes and other expenses.
Estate planning* involves the will, trusts, beneficiary designations, powers of appointment, property ownership (joint tenancy with rights of survivorship, tenancy in common, tenancy by the entirety), gifts, and powers of attorney.
HERE ARE 10 SIMPLE STEPS TO AN ESTATE PLAN
*Consult your legal or tax counsel for advice concerning your personal circumstances. Neither East West Bank, Cetera Investment Services, nor any of its representatives may give legal or tax advice.