An estate plan should really be called a human plan or human planning. After all, each estate and family is different, requiring personal and exclusive attention.
As an estate planning attorney, my goal is to educate and inspire a conversation with people and families needing help with creating a plan, keeping up-to-date, and planning for the future.
Estate Plan Basics
Each person and family is different. Generally, a person’s plan starts with addressing beneficiaries, formalizing a will and addressing a power of attorney and health care agent.
For some, a few documents can accomplish this goal. For others, a more sophisticated plan is called for.
Families who are concerned about reducing stress on family members find comfort in adding a revocable trust to their estate plan, communicating their goals for the future, and addressing asset transfers today versus down the road. This can be especially important when children are impacted.