Estate Planning & Wills

1. What is an estate plan?

An estate plan is a set of legal documents that outlines how your assets will be managed and distributed upon your death or incapacity. It may include a will, trust, power of attorney, and healthcare directives.

2. Do I need an estate plan if I don’t have a lot of assets?

Yes! Estate planning isn’t just about wealth—it’s about ensuring your wishes are honored, protecting your children, and preventing unnecessary legal complications for your family.

3. What happens if I die without a will?

If you die without a will (intestate), state law will determine how your assets are distributed, which may not align with your wishes. This can lead to delays, legal costs, and potential disputes among family members.

4. What’s the difference between a will and a trust?

A will outlines how your assets should be distributed after your death and requires probate, while a trust holds assets and allows for seamless management and transfer without court involvement.

5. What is probate, and why should I try to avoid it?

Probate is the court-supervised process of validating a will and distributing assets. It can be time-consuming, expensive, and public. Using tools like living trusts and beneficiary designations can help avoid probate.

6. Who should be my executor or trustee?

Your executor (for a will) or trustee (for a trust) should be someone trustworthy, responsible, and organized. It can be a family member, friend, or professional fiduciary.

7. How do I protect my minor children in my estate plan?

You can designate a guardian in your will to care for your children and set up a trust to manage their inheritance until they reach a responsible age.

8. Do I need a power of attorney?

Yes! A power of attorney allows someone to manage your financial affairs if you become incapacitated, preventing the need for a costly and time-consuming court-appointed guardianship.

9. What is a healthcare directive, and why do I need one?

A healthcare directive (or living will) outlines your medical wishes if you become unable to communicate them. It can include appointing a healthcare proxy to make decisions on your behalf.

10. How often should I update my estate plan?

You should review your estate plan every 3–5 years or after major life events such as marriage, divorce, having children, or acquiring significant assets.

11. Can I leave specific instructions for my funeral?

Yes! You can include funeral and burial wishes in your estate plan, but since wills are often read after the funeral, a separate letter or pre-arranged plan may be better.

12. Can my estate plan help minimize taxes?

Yes. Proper estate planning can help reduce estate taxes through strategies like gifting, trusts, and charitable donations.

13. Can I disinherit someone in my will?

Yes, but state laws vary. Some states protect spouses and minor children from complete disinheritance, so it's best to consult an attorney for guidance.

14. What happens to my digital assets (social media, emails, cryptocurrency)?

Your estate plan should include instructions on managing digital assets, including login information and who has authority over them.

15. What happens to my debts when I die?

Debts don’t disappear when you die. Your estate must pay them before distributing assets. If there aren’t enough assets, creditors may not be fully repaid.