Some Newport Beach parents think that they should start giving money away to their children right now, as they're getting older, to avoid different estate planning and tax consequences when they die. If you're one of these parents, you're definitely on to something. If your children are as good as you are -- or better -- at handling their finances, this could be a good idea.
When a physician begins his or her estate planning process, the physician will no doubt need to create a net worth statement. This statement will also need to include a listing of life insurance policies.