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With extreme wealth accumulated, one would assume that celebrities would take steps to protect their estates. But think again: Some of the world?s richest and most famous people enter the pearly gates with no estate plan in place, while others have made estate planning mistakes that tied their fortunes and heirs up for years in court.

Estate planning is the process of developing a strategy for the care and management of your estate if you become incapacitated or upon your death. One commonly known purpose of estate planning is to minimize taxes and costs, including taxes imposed on gifts, estates, generation skipping transfer and probate court costs.

While the term fiduciary is a legal term with a rich history, it very generally means someone who is legally obligated to act in another person?s best interests. Trustees, executors, and agents are all examples of fiduciaries.

We understand that it feels hard to get around to estate planning; it sounds about as fun as getting a root canal. However, we also understand that we all want to make sure that our loved ones are protected and receive our hard-earned assets ?