Estate planning is just applicable to "rich" people as it is to not so "rich" people. Having a proper estate plan can help pass on wealth, regardless of the amount, to the next generation without a significant tax cost. Keep in mind, estate planning is not always about transferring wealth. It also includes how you want things handled before you pass away.
This checklist can be a reference for building the plan that works best for you, and your individual circumstance.
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