Purpose of Planning:

To have a say (a big say) in what happens to yourself, your loved ones, and your assests, when you cannot. 

Sets up structure which minimizes conflict between family members and allows smooth transition of assests.

Estate Planning Basics
Terms to know

Intestate: When you pass away without a Will, state law determines who receives your assets.

Will: A legal document that states who you want to receive your assets when you pass away.


Trust: A legal entity created to hold, protect and distribute your assets without probate.

Power of Attorney: Gives another person the authority to handle your financial affairs during your incapacity.

Healthcare Directive: Gives another person the authority to made medical decisions for you during your incapacity.

Probate: The process by which the court determines the validity of your will.

Transfer on Death Deed: Names a beneficiary to receive certain financial assets. Anything with a beneficiary designation is exempt from probate.