Despite the fact that most people recognize the need to create a comprehensive estate plan, a shocking percentage of people do not have one. For many, the failure to create an estate plan boils down to the simple fact that they do not know where to begin. Although each estate plan should be tailored to the unique needs and goals of the individual creating the plan, there are some estate planning tools that are commonly used. A basic understanding of some of these tools can help de-mystify the task of estate planning.
Nirenstein, Horowitz & Associates, P.C. is a member of the American Academy of Estate Planning Attorneys.