Transferring assets to the next generation can be a very fulfilling experience. However, it carries a great deal of risk and if done poorly can also create a great deal of angst.
Good estate planning starts by listening to your desires and then putting together the pieces of your puzzle so that the right heirs receive the proper assets at the proper time.
The secondary goal of estate planning is reducing the estate tax due upon the death of the current owner. These laws change from time to time, so estate planning is a continuous process. It’s also a process that begins when you first acquire assets, not just when you have gray hair. So don't delay. Make sure your estate plan is in great shape today.