Estate Planning Basics

End of Life Management Toolkit #6 | by Team Passare and Robert L. Shepard

3. Identify Your Estate: First Step for Creating an Estate Plan

The initial step in estate planning basics is to identify your estate by determining: (1) what property you own, (2) its value, and (3) how it is owned. With this information, you can begin the process of planning your estate.

What is an Estate?

Simply put, your estate is everything you own.

How you hold property is important for the estate planning process. The type and manner of ownership of property dictates how your property will be transferred at death.

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