Secure Peaceful Futures Instant Estate Planning Basics Guide

Key Components of Estate Planning

A will is perhaps the most well-known element of estate planning. It specifies how your assets will be distributed and can appoint guardians for minor children. Trusts, on the other hand, offer more flexibility and control over asset distribution. They can be particularly beneficial for reducing estate taxes and avoiding probate, a time-consuming and costly legal process. Power of attorney and healthcare directives ensure that your financial and medical decisions are made by someone you trust if you become incapacitated.