Estate plan

{
  "id": "MLC-T-INS-001349",
  "term": "Estate plan",
  "field": "Insurance and risk management",
  "definition": "A collection of legal documents and strategies designed to manage an individual's assets during their lifetime and distribute them after death, while minimizing taxes and administrative costs. It typically includes wills, trusts, powers of attorney, and healthcare directives. The plan dictates how assets are transferred to beneficiaries and how medical and financial decisions are made if the individual becomes incapacitated.",
  "url": "https://mlchart.com/terminology/insurance/estate-plan/"
}