Anybody who has property can benefit from an estate plan.
you don’t need to be “rich.”
Yes, estate planning can help avoid estate tax, which seems like only a problem for the rich.
With the federal estate tax exclusion where it is right now, you don’t have to worry about estate taxes unless you have 6 million dollars or more.
But, the laws can change. The exemption can easily go back down to what it was as recently as 2011: one million dollars. An estate plan can give you flexibility to deal with these changes effectively.
There are also plenty of non-tax reasons to have an estate plan. It can help you in an emergency by allowing someone to take care of your affairs. It can make the transition after you pass away much smoother for your loved ones by avoiding probate. It can also provide for your loved ones needs while protecting them from creditors.