You don’t have to be a billionaire to plan for your estate. No matter the size, ensuring that your wealth is protected and transferred according to your wishes is crucial after you pass on. Deciding how your assets will be distributed will safeguard your family’s future and avoid legal battles. Without a proper estate plan, your loved ones may face delays, financial losses, and disputes. Drawing a comprehensive estate plan helps with the seamless transfer of assets, minimizes taxes, and preserves your sweat for future generations. The Components of an Estate Plan Wills A will is a legal document that outlines how your assets will be distributed after your death. It names beneficiaries, assigns an executor to manage your estate, and can also designate guardians for minors. Without a will, the distribution of your assets is determined by state laws, which may not align with your wishes. Trusts Trusts are legal arrangements that allow a trust...