Estate planning is in important topic for most Americans to consider. Unfortunately not nearly enough pay attention to this topic and as a result negative consequences result. Estate planning involves an individual working through and setting up the management and disposal of that individual’s estate. The process is done during the person’s life and accounts for what will happen at and after death or if the person is incapacitated permanently.  Their many important reasons for this to be done but essentially, proper estate planning  will minimize gift, estate, generation skipping transfer, and income taxes that would otherwise come due upon the…