More than half of the adult population in the United States does not have a last will and testament. It is not a subject people like to discuss, but it is important understand all the necessary steps to estate planning.
Estate planning includes preparing documents that:
- make health care decisions
- manage finances
- transfer, and possibly manage, assets after death
At a minimum, these documents consists of an advance directive for health care, a power of attorney, and a distribution plan for assets, through either a will or a trust. Planning ahead for what will happen with your estate results in a peace of mind for everyone.