SIC Code 8111-20 - Estate Planning

Marketing Level - SIC 6-Digit

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SIC Code 8111-20 Description (6-Digit)

Estate planning is a legal service that involves the management and distribution of a person's assets and property after their death. It is a process of creating a plan that ensures the smooth transfer of assets to beneficiaries while minimizing taxes and other expenses. Estate planning is not just for the wealthy, but for anyone who wants to ensure that their assets are distributed according to their wishes. It involves a range of legal documents and strategies that are tailored to the individual's needs and goals.

Parent Code - Official US OSHA

Official 4‑digit SIC codes serve as the parent classification used for government registrations and OSHA documentation. The marketing-level 6‑digit SIC codes extend these official classifications with refined segmentation for more precise targeting and detailed niche insights. Related industries are listed under the parent code, offering a broader view of the industry landscape. For further details on the official classification for this industry, please visit the OSHA SIC Code 8111 page

Tools

  • Will: a legal document that outlines how a person's assets will be distributed after their death
  • Trust: a legal arrangement where a trustee holds and manages assets on behalf of beneficiaries
  • Power of Attorney: a legal document that gives someone the authority to act on behalf of another person in legal and financial matters
  • Health Care Proxy: a legal document that designates someone to make medical decisions on behalf of another person if they are unable to do so
  • Living Will: a legal document that outlines a person's wishes for endoflife medical care
  • Life Insurance: a policy that pays out a sum of money upon the death of the policyholder
  • Retirement Accounts: accounts that hold funds for retirement, such as 401(k)s and IRAs
  • Gifting: the act of giving assets to beneficiaries while the person is still alive, which can help reduce estate taxes
  • Business Succession Planning: a strategy for transferring ownership and management of a business to the next generation
  • Charitable Giving: the act of donating assets to a charitable organization, which can provide tax benefits

Industry Examples of Estate Planning

  • Estate Planning Attorney
  • Financial Planner
  • Trust Officer
  • Accountant
  • Insurance Agent
  • Wealth Management Firm
  • Family Office
  • Executor
  • Elder Law Attorney
  • Tax Advisor