Duban Accountancy: What Is Estate Planning and Why Is It Important?

1. WHAT IS ESTATE
PLANNING AND WHY IS IT
IMPORTANT?
Duban Accountancy

2. DUBAN ACCOUNTANCY: WHAT IS ESTATE
PLANNING AND WHY IS IT IMPORTANT?
For more than a quarter century, Duban Accountancy has provided expert
estate planning advice to clients in a range of circumstances. Estate
planning refers to the process of organizing assets and preparing them for
posthumous distribution to chosen beneficiaries. No matter the nature or
state of a person's financial affairs, professional help is important to clarify
planning needs and desires and to craft a plan that minimizes tax burden
and maximizes security for surviving heirs.

3. DUBAN ACCOUNTANCY: WHAT IS ESTATE
PLANNING AND WHY IS IT IMPORTANT?
Estate plans include a variety of elements. Among the most critical
aspects is the will, which specifies who will receive assets and in what
proportion. Most plans also assign a power-of-attorney designation, which
authorizes the chosen party, known as an agent, to represent the grantor
legally and--if desired--medically. A living will specifies medical treatment
wishes. A final element, trusts, can place conditions on the distribution of
assets and help reduce taxes. Taken together, these tools will ensure an
estate is handled according to the wishes of the testator.