Subscribe to Entrepreneur for $5

State of the Estate

What is estate planning and why should you be doing it now?

This story appears in the January 2001 issue of Entrepreneurs Start-Ups magazine.

What is estate planning and how can it help you? If you've never considered the question, think of it this way: You're not going to be around forever. Plan on it. If you haven't yet made a will, do it today. You can download a "No-Frills" will at, but that's only a temporary measure. It doesn't deal with complex distribution of assets, joint holdings or your (hopefully) multimillion-dollar start-up. Those and other details are covered by estate planning.

Estate planning can be summarized in three words: Who gets what? "When you die, something will happen to all your stuff: investments, real estate, business assets, clothing, jewelry and cars," explains Ric Edelman, financial advisor and founder of Edelman Financial Services Inc. in Fairfax, Virginia. "You have the opportunity now to dictate what will happen to [those things]."

Continue reading this article -- and everything on Entrepreneur!

Become a member to get unlimited access and support the voices you want to hear more from. Get full access to Entrepreneur for just $5!

3 months free with code ZENDESK

Presented by zendesk

3 months free with code ZENDESK