Estate management planning involves the development of a comprehensive strategy to (a) insure efficient management of the estate property during and after the lifetime of the owner, and (b) create the desired legal consequences in the disposition of the property. For adequate analysis, both the creation and the transfer dimensions of the state management.problem must be considered. This paper develops a dynamic decision model that can be used to evaluate how well alternative legal and financial tools satisfy specified estate management goals. The results of computer simulation of a case estate are used to illustrate how the model could be utilized as an operational tool of an estate management planning service.