Meeting estate planning objectives. If an estate is going to be large enough to tax, having a will is important, but not the only step that needs to be taken. The client may also need to do some additional estate planning to meet other important objectives:

• Avoiding Probate


• Reducing or Eliminating Estate Shrinkage


• Providing Sufficient Liquidity to Cover Estate Settlement Costs


• Minimizing Federal Estate Taxes & State Death Taxes


• Providing for the Orderly Disposition of a Business or Professional Practice


• Maintaining the Family's Lifestyle & Meeting Other Financial Security Objectives

To avoid making mistakes, people need professional advice from a qualified attorney, trust officer, accountant or other financial advisers. Estate planning has helped countless numbers of people reduce their estate tax liabilities and prevent the needless loss of business and other assets. It's important to remember, however, that while tax savings may be a primary issue, it is not the only issue. Estate planning is also a way for people to reflect and decide what they'd like to have happen to their property after they're gone.

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