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Estate planning is the process of accumulating and disposing of an estate to maximize the goals of the estate owner. The various goals of estate planning include making sure the greatest amount of the estate passes to the estate owner's intended beneficiaries (which may include the estate owner himself), often including paying the least amount of taxes. Additional goals typically include providing for and designating guardians for minor children and planning for incapacity. Estate planning can be useful for planning retirement, as tax deferral instrument when disposing of ones business interests, to minimize inheritance taxes or to protect future generations (for instance against extravagantly spending by one generation).
The tools involved in estate planning include international corporate structures, especially private foundations in The Netherlands Antilles or Panama.
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