What is an estate plan?
The Bankrate.com financial term of the day is: "Estate plan."
The phrase "estate plan" may give you a mental image of a gazillionaire sitting down with an architect and going over blueprints for a new mansion. But it's actually a term that may be relevant even for those worth far less than big bucks. It's a strategy for leaving property to your loved ones when you die, while trying to make sure they don't also get stuck with a big tax bill to go along with that inheritance.
As they say, you can't take it with you -- so create an estate plan to determine where it goes when you're gone.
To find a certified financial planner to help with your estate plan, visit the retirement section at Bankrate.com.
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