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The following tips, aimed at those under 40, can help you approach and simplify the estate planning process: Start now, regardless of net worth. Estate planning is a crucial process for everyone, regardless of wealth level, says Marc Henn, a certified financial planner and president of Harvest Financial Advisors. Have the "what if?" conversation with friends and family. Before jumping into the estate planning process, it's important to establish exactly what you want, and need, to happen after you die and relay those wishes to those around you. "We find that the best transitions and financial transfers happen when all family members are involved in the decision making," says John Sweeney, executive vice president of retirement and investing strategies at Fidelity Investments. Focus on the basic estate plan components. Experts say life insurance, a will, a living will and a durable power of attorney are all important aspects of an estate plan that should be established at the start of the planning process. Utilize estate planning professionals. To draft these basic estate plans, experts recommend carefully selecting a team of professionals who will educate you and draft what you need based on your individual situation. Continue to review your plan over time. Finally, your estate plan should never be a "one and done thing," according to Henn.