Common Questions About Estate Planning
Estate planning can feel overwhelming—but it doesn’t have to be. At HELP, we make it clear, approachable, and tailored to you. These FAQs cover what you need to know to protect your assets, your wishes, and your loved ones.
What is considered part of your estate and what is an estate plan?
Your estate includes everything you own: real estate, bank accounts, retirement savings, life insurance, personal property—even antiques or collectibles. An estate plan is a collection of legal documents that ensures your assets are protected, properly transferred to loved ones, and accessible in case of incapacitation or death. Without a plan, your family could face delays, legal fees, and confusion.
What documents are included in a complete estate plan?
A comprehensive estate plan typically includes four essential documents:
A revocable living trust (to control how your assets are distributed)
A will (to handle remaining assets and name guardians)
A power of attorney (to manage finances if you’re incapacitated)
An advance healthcare directive (to make medical decisions on your behalf)
These tools work together to protect your health, finances, and loved ones—before and after death.
Who needs an estate plan and why is it important?
Everyone needs an estate plan, regardless of age or wealth. At a minimum, every adult should have an advance healthcare directive in case of medical incapacitation. Depending on your circumstances—like owning real estate, having minor children, or wanting to avoid probate—you may also need a trust, will, and power of attorney. An estate plan ensures your assets and medical decisions are handled the way you want.
Should married couples create a joint trust or separate trusts?
Whether a married couple should have a joint trust or separate trusts depends on their financial and personal circumstances. You may want separate trusts if you brought separate assets into the marriage and wish to retain individual ownership, or if you’re concerned about remarriage and want to prevent your assets from benefiting a future spouse. However, if there’s no concern over asset separation, remarriage, or trust within the relationship, a joint trust is often a simple and effective solution.
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