Everyone should have an estate plan that controls what happens to your possessions and minor children when you pass away. Estate tax related problems should also be considered. If you do not have an estate plan, it can cause a difficult burden for your family and heirs. Also, without estate planning, you will not be able to control what happens to your assets when you die.
Depending on your specific goals and the complexity of your estate the following are some of the documents customarily used in an estate plan.
- Wills and Trusts
- Powers of Attorney – Financial and Health Care
- Living Will
Other considerations for Estate Planning:
- Probate and Trust Administration
- Trust vs. Will, which is better?
- Ancillary Probate
- Medicaid Planning
- How to Avoid Probate