When many people think of "estate planning," they automatically picture legal documents and procedures associated directly with a person's death. While it is true that wills and trusts play a (potentially) huge role in estate planning depending on the circumstances, there are also instances where estate planning can affect the planner's life while he or she is still alive. An example of this is an advance directive or advance healthcare directive: having a living will can produce a blueprint of your wishes if you are medically incapacitated, allowing your chosen agent to make decisions on your behalf accordingly.
One of the most important (and earliest) decisions you will make regarding your business is the structure. This is a big decision since it will have a huge impact on the amount of personal liability you take on, the amount of paperwork you are legally required to do and the amount you pay in taxes.