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Estate & Legacy

Protecting your wealth and ensuring it transfers according to your wishes

practical

What estate planning documents do I need?

Everyone should have four essential documents: a will (directs asset distribution), durable power of attorney (handles financial decisions if you're incapacitated), healthcare power of attorney (makes medical decisions), and living will/advance directive (outlines end-of-life wishes). For larger estates, trusts may provide additional benefits.

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Do I need a trust?

A revocable living trust is beneficial if you want to avoid probate, maintain privacy, own real estate in multiple states, or need flexibility for complex family situations. Trusts aren't just for the wealthy—the benefits often justify the cost for middle-class families. However, simpler estates may only need a will with proper beneficiary designations.

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What's the best way to leave money to my children?

Consider age-appropriate distributions rather than lump sums—many parents use trusts to distribute assets in stages (25%, 35%, 45%, or over time). Life insurance can provide immediate tax-free funds. For retirement accounts, understand the 10-year distribution rule for inherited IRAs. Roth accounts are particularly valuable to leave to heirs.