What Estate Planning Is

Estate planning is the process of arranging what happens to your assets, your dependents, and your medical care when you die or become incapacitated. It includes legal documents (your will, advance directive, powers of attorney), financial designations (beneficiaries on accounts and insurance), and practical instructions (where your documents are, what your accounts are, what your wishes are).

When You Might Need a Trust

A revocable living trust allows assets to pass directly to beneficiaries without going through the public, time-consuming probate process. It also allows more nuanced instructions than a simple will — for example, distributing assets to children in stages as they reach certain ages. Trusts make sense for people with significant assets, complex family situations, or a strong desire to avoid probate.

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Estate Planning Basics: What Everyone Needs to Have in Place

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Estate Planning Basics: What Everyone Needs to Have in Place

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