Estate Planning Definition

Estate planning is a legal term that is misunderstood by many people.  Here is my estate planning definition.

 

Hi, I’m Gary DeWitt, Estate Planning Attorney in Northwest Arkansas.

First, you need to understand what “estate” means in law.  Estate is not a big house with servants and acres of finely manicured lawns.  Basically, estate means a collection of stuff.

Everybody has an estate.  Even if it just the clothes you wear, that is your estate.  In law, you can have several estates…  You can have your probate estate, which is separate from your non-probate estate.  Remember, an estate is just a collection of stuff.

So, the term “estate planning” really means planning what you want to do with your stuff during your lifetime and beyond.  I want to make sure you understand that a major part of estate planning is about protecting your stuff during your lifetime.

But, modern estate planning includes more than just protecting your hard-earned money and other property.  Modern estate planning includes your legal, financial, and healthcare decisions.  You protect your legal and financial choices with a Durable Power of Attorney.  You protect your healthcare with a Durable Healthcare Power of Attorney and Medical Information Waiver.

You are invited to call with questions or to get my free book, “Secrets of Excellent Estate Planning”.

I will show you how to bulletproof what you have today, and what you leave your kids tomorrow.  You’ll be able to take advantage of my estate planning legal strategies without you or your loved ones having to deal with Probate Courts, long estate settlement delays, and death tax.

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from DeWitt Law Firm, PLLC