Advance Health Care Directive, Burial Arrangements, Common Estates, Durable Power of Attorney for Finances, estate, Estate Plan, Estate Planning, Funeral, Health Care Proxy, Living Trust, Living Will, Medical History, Military Discharge Papers, Safe Deposit Box, Tax Returns, Will
Many people with common estates believe that a coherent estate plan consists of just a will. This perception about estate planning emanates from the idea that estate planning is only about transferring property after death. Unfortunately, if you believe in this misguided perception about estate planning, you will never complete a coherent estate plan.
Before planning your estate, you must understand that estate planning involves taking care of yourself first, then your property. Sadly, at some point in your life, you may become too ill to handle your own affairs. Therefore, you must provide instructions to manage this possibility in your estate plan; otherwise, the state court will intervene. So, to avoid state court interference, a coherent estate plan must consist of more than just a will.