Estate planning

Estate planning is the process of anticipating and arranging, during a person's life, for the management and disposal of that person's estate during the person's life and at and after death, while minimizing gift, estate, generation skipping transfer, and income tax. SOURCE: Estate planning. From Wikipedia, the free encyclopedia.

It is the manner by which a person takes measures and uses devices such as wills, trusts and advance directives in order to conserve the property to be transmitted to his heirs by decreasing the amount of possible estate taxes and other taxes to be paid upon his death.