How familiar are you with estate planning? Its important to have a basic idea and a good plan that will benefit your family and your long term financial goals even beyond death.

1. Get a basic Plan in Place -  This will help your family

2. Know the Ingredients of an Estate plan - You have a will, power of attorney and a health proxy… keep in mind the tax man for things such as state laws on estates.

3. Keep a list of your assests - This includes retirment savings, insurance policies, business interests, investments. Who will get this? Who do you want to handle this?

4. Get yourself a will - This is just a given see your lawyer about this get it setup correctly

5.  Consider getting a Trust - This is not just for wealthy people they help reduce your estate and gift taxes. They provide a lot of protection aswell against lawsuits

6. Arrange to discuss your estate plans with the heirs - This helps avoid confusion and disputes

7.  Understand federal estate tax exemption -  Learn everything you can about this as there are limitations.

8. Think twice before leaving money to your spouse to avoid taxes. - Shis is not always best and the reason is you increase you spouses taxable estate because you dont use your estate tax exemption

9. Reduce your estate taxes with Gifts - You can give $12,000 a year to an individual or $24,00 to a spouse You can pay educational and medial if you pay to the company directly

10. Remember Charity Benefits! - Donating to charities lets your investment grow tax free