Protecting your assets by creating a trust. Placing your estate (as defined above) into a trust can lower costs from estate taxes that could otherwise burden your beneficiaries. A trust can also be used to protect certain assets within your estate.
Your estate is simply a word the encompasses the phrase, "everything you own." Everyone has an estate and planning ahead is something you can benefit from. Estate planning is not just for the wealthy or those close to retirement age. Estate planning doesn't have to be intimidating and is highly recommended by financial professionals.