The estate planning process can be one of the most important processes anyone can engage in, yet it can seem challenging for a variety of reasons. Estate planning does not have to be intimidating and the more testators understand about the process, the better prepared they will be to develop a plan that can provide important peace of mind.
Estate planning is not a one-size-fits-all process. It includes several key components and tools to help testators address their concerns. Estate planning resources and documents can help testators ensure their wishes will be fulfilled and their property will be distributed how they want it to be.
Estate planning documents include a will, trust, advanced healthcare directive and a power of attorney. Wills must be properly executed according to the laws in the state where they are drafted in order to be valid, so testators should always be familiar with what those requirements are. A trust can help achieve a variety of different goals, and there are a variety of different types of trusts that testators can utilize. An advanced healthcare directive and power of attorney can ensure the testator's medical and financial wishes are honored, even if they become incapacitated.
Estate planning tools provide important protections for testators and their families and are suitable to address many different concerns. Because the process can sometimes seem overwhelming, testators of all types can benefit from having trained guidance to walk them through the complexities to achieve a complete estate plan they can have confidence in.