What is Estate Planning?
Estate Planning Basics
Typically, a basic estate plan will include:
- A valid and legally enforceable will that names your heirs
- A revocable living trust, which enables your family to avoid probate as well as guides asset management and decision-making if you become incapacitated during your lifetime
- Powers of attorney for financial management and health care decision-making in case you are unable to handle these yourself at some point
- Nomination of guardians for minor children