What is Estate Planning?

What is Estate Planning?

Estate planning is the preparation of tasks to manage a person’s assets before they die or become incapacitated. Assets that make up a person’s estate can include, but are not limited to, houses, cars, shares, life insurance, pensions and savings. People choose to plan their estate for a variety of reasons, such as providing for their children or a spouse, funding Grandchildren’s education, preserving family wealth or leaving a sum of money to charity. Planning the estate involves determining how an individual’s assets will be managed and distributed after death or if they become incapacitated. The first and most important step in planning your estate is to make a will. A will is a legal document outlining instructions on how an individual’s property and minor children (if they have any) should be handled and distributed after death.

At 1st Line Funeral Care, our Legal Services Department offers top-of-the-range services for a variety of financial and welfare circumstances that ensure your estate is protected when you pass.