Most people assume that estate planning is only for the wealth. After all, there is the belief that estate plans are designed to help large estates avoid paying taxes when the owner dies. You should realize, though, that good estate planning can be helpful for anyone. When you have an estate plan, your wishes are made known, and you can structure your finances so that your desires are followed if you become incapacitated (but still alive).
An estate plan has three main parts:
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