An estate plan is a technique through which a person conserves assets and transfers them to heirs at least tax cost. There are many elements to estate planning. It begins with a will and can include trust, a power of attorney and insurance. Whatever the structure, keep it up-to-date, review at least every two or three years, keep family members aware of the details including the location of all the significant financial papers and how to reach the key advisor(s). Also consult heirs before putting the plan into effect so there are no suprises in the arragements.