What Is a Basic Estate Plan?

The term estate planning is very broad and encompasses everything from preparing a basic power of attorney to complex planning.  The process of estate planning simply means creating written legal documents to define your wishes for a period when you are unable to communicate due to incapacity or death.  Some people comment, “I don’t need an estate plan because I don’t have anything”.  But these legal documents are necessary even if you don’t have much in the way of assets.

A basic estate plan can include one or more of the following legal documents:

  • Last Will and Testament
  • Power of Attorney
  • Power of Attorney for Health Care
  • Living Will
  • Revocable Living Trust

Each of these documents is described in more detail in the next five questions.

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