Estate planning is a process involving your family, other individuals, your assets and various forms of ownership and title those assets may take. When planning your estate you will need to consider:
How will your assets be managed if you are unable to do so? To whom will your assets pass? When will those assets be transferred to others, during your lifetime, at your death, or sometime after your death?
Estate planning also involves your welfare and needs. It is more than writing a will, it encompasses planning for your own financial care and health care if you are unable to take care of yourself.
As you consider it further, you will realize that every adult should have an estate plan. A complete estate plan package usually consists of a Pour-over Will, Revocable Living Trust, Advance Health Care Directive and Durable Power of Attorney for Asset Management. Of course, not everyone requires a Revocable Living Trust. An experienced estate planning attorney will be able to assist you in determining exactly what kinds of documents are needed for your particular situation.
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