Estate planning is about more than just planning for the future. Depending on your situation, there are financial vehicles that can provide significant savings and protections now as well.
A revocable living trust won't protect you against creditors or give you any tax benefits, but it will make the transfer of property much smoother after death and can be changed at any time. Irrevocable living trusts, on the other hand, provide not only protection against creditors and tax benefits, but depending on whether it is an asset protection trust, dynasty trust, charitable remainder trust, or irrevocable life insurance trust, can also help provide for family members for many generations, provide an income for you and contribute to charitable organizations. Establishing a foundation can give you some of those same benefits but with more control and a longer-lasting legacy.