As previously mentioned, anyone with assets has an estate, and everyone with an estate has an estate plan (whether they know it or not). Some people have control of their plan, while others do not. Those who don't proactively set the terms for disposing of their estate with an estate plan de facto let the state and federal governments do so. The most basic benefit of estate planning is control. Estate planning lets each estate owner determine the fate of his estate, rather than leaving that decision to state intestacy laws.
Through the estate planning process, clients are able to determine what their financial objectives are – for themselves and their families – and to develop a plan that achieves those objectives, both during their lifetimes, and after death. Perhaps the greatest benefit to clients of estate planning is the knowledge that the assets they have worked so hard to accumulate will be preserved to the fullest extent possible, and distributed according to their wishes.
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