estate planning
/ˈɛstɪt ˈplænɪŋ/ · es·tate plan·ning
noun
- The process of arranging for the management, preservation, and disposition of a person's assets during their life and after death, typically through wills, trusts, and other legal instruments. She consulted a lawyer to begin her estate planning, ensuring her children would inherit her home without probate delays.
Synonyms
will preparationasset managementinheritance planningtrust planningsuccession planningestate managementlegacy planningfinancial planning
Antonyms
Did you know? The modern practice of estate planning surged after the 1976 U.S. Tax Reform Act, which introduced new estate tax thresholds, prompting many to formalize their asset distribution strategies.