Estate planning is not just for the wealthy. Anyone with assets, dependents, or healthcare preferences needs a will, updated beneficiary designations, and a healthcare directive. Without these documents, courts and state law determine what happens — not you. For higher net-worth individuals, the tax angle matters more: estate tax thresholds, stepped-up basis for taxable accounts, charitable giving strategies through donor-advised funds, and trust structures can significantly affect how much of your estate reaches your heirs versus going to taxes.
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