You already have an estate plan, even if you have done nothing.
Many people feel that estate planning is an unpleasant and morbid subject.
There is no doubt that estate planning can raise some difficult emotional issues. Unfortunately, if you ignore those issues now, you may cost your family thousands or even million of dollars later, as well as considerable mental anguish. Proper estate planning takes far less time and effort than most people imagine, and it can give you tremendous peace of mind. However, with proper planning, you can minimize or eliminate your estate tax bill. A trust is a legal structure that you can use for a variety of needs, ranging from competent asset management, to avoidance of probate, to flexibility in planning for others.