Answer: Perhaps the best way to understand what I mean by the phrase “estate planning”, is to define what estate planning is not. Estate planning is not a product or a document. For example, estate planning is not a will or living trust or a nursing home insurance policy or a power of attorney or an advanced medical directive or a Medigap insurance policy or a limited partnership or a corporation or a charitable remainder trust or a wealth replacement life insurance policy or a qualified personal residence trust or an irrevocable life insurance trust, etc. The items in the above sentence represent products or documents. They are not an estate plan. An estate plan is a strategy which may involve some, many, or none of the above documents to preserve and protect your wealth. The type of estate plan or strategy which is appropriate for you must be based on a comprehensive analysis of your family, health and financial situation by a qualified professional. If you have not been involved in such a comprehensive professional analysis, you do not have an estate plan.