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Estate Planning
The process of organizing and arranging for the management of a person's assets and property after their death.
More Details
Estate planning is the process of planning for the management and distribution of assets after an individual passes away. Estate planning can help ensure that an individual's wishes are carried out and that loved ones are taken care of after they are gone.
Example
You want to make sure that your assets are distributed according to your wishes, so you work with an attorney to write a will. This is a form of estate planning.
Related Terms
Refinance
The process of paying off an existing loan with a new loan, typically in order to obtain a lower interest rate or to change the terms of the loan.
Jumbo Loans
A type of mortgage that exceeds the conforming loan limits set as eligible for purchase by government-sponsored enterprises.
Custodian
A person or entity that holds and safeguards assets on behalf of another entity.