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For many people, a major motivation in planning their estate is making sure that their loved ones are not under a great deal of stress with administrative responsibilities at the end of their life.

The way you organize an estate plan can be very personal. You consider what you would like to happen if you are incapacitated or if you pass away. You appoint the people you trust most for key responsibilities, and you determine who you would like your money and other assets to go to once you are gone.

If a member of your family has passed away in recent months, you will have needed to work with other family members in order to carry out the wishes that your loved one stated in their will. It is quite common for family members to be shocked and upset by the wishes that are put forward in a loved one's will.

If you are an executor of an estate, you will have the responsibility of going through estate administration. This can feel like an overwhelming process to go through, especially when you are grieving the death of a person that you cherished.

If you are a business owner, it is likely that you started your business from humble beginnings and have had to grow and evolve along with your company. Having a growing business always presents new challenges, and the more successful the entity becomes, the more there is to lose.

In planning your estate, you are essentially attempting to plan for an uncertain future. None of us will be able to predict what ours and our loved ones' lives will be like in a decade's time. In addition, we are not able to force how laws might change, particularly in regard to taxes and inheritance.

When a loved one passes away, the emotions of the entire family will be on edge. Grieving is a very difficult process, and everyone deals with it differently. Therefore, if a will is directed in a way that a certain family member does not expect, reactions can be tense and disputes can arise easily.

Life can make unexpected turns. Sometimes you may be required to move to another state for a new job, new opportunities or to be closer to family. However, relocating can be difficult when you are also taking care of someone.

It can feel overwhelming to be named the executor of an estate. It means that you have to oversee the entire procedure of settling a person's estate after they have passed away.

Small- and medium-sized companies are generally highly dependent on having a healthy cash flow. This means that making sure that you are being paid by customers in a timely manner is highly important for the success of your company.