Estate planning is not exclusive to the wealthy; it's essential for everyone, regardless of net worth. It determines asset inheritance and guardianship for minors or dependents with special needs. Components typically include a Revocable Living Trust, last will, Durable Power of Attorney, and Health Care Power of Attorney. Effective estate planning goes beyond tax management, ensuring assets pass as desired and potentially maximizing legacies while maintaining financial security. Bauman Advisory Group, LLC doesn't offer tax or legal services but can provide referrals and collaborate with clients' attorneys or advisors.