What is Estate Planning?
Think of it as contingency planning for your life. While you are healthy you remain in control of your own decisions and finances. If you become seriously ill or are injured, you may need someone you trust to be responsible for managing your finances until you recover. You may also need someone to make decisions about your medical care. If you can’t take care of your children you need someone you trust to do that too.
When you eventually die, you need someone you trust to make sure your assets are preserved for the benefit of your family and all your outstanding obligations are met. A comprehensive estate plan will include documents naming your trusted agents and giving them direction about how you want them to act on your behalf when you can’t.