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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
Estate Planning
The process of organizing and arranging for the management of a person's assets and property after their death.
Home Equity Line of Credit (HELOC)
HELOC stands for home equity line of credit, which is a type of loan that allows a homeowner to borrow against the equity in their property.
Home Equity
The current market value of a homeowner's property minus any outstanding mortgages or liens on the property.