First thing that comes to mind is “what comprises my Estate”. In layman terms, Estate is your total net worth and includes your bank accounts, immovable property, shares, mutual funds, insurance policies, jewellery, any other assets you may have to your name.
Estate planning essentially means what will happen with your assets once you are gone. One needs to figure out how to distribute his assets without encountering legal difficulties, while keeping as much money as possible in the family. You need to decide that once you are gone, where these assets will go. Typically, parents leave most of their estate to their children, though you may also decide to leave parts of your estate to friends, nieces and nephews, siblings or charitable organizations.
Estate planning is a fairly normal part of middle age. However, when you have a child with autism, estate planning process becomes more complicated. Hence, once you discover about your child, it is advisable to start this planning at the earliest.