Estate planning isn’t just for the wealthy. A basic plan decides who inherits your property, who raises your minor children, and who can make financial and medical decisions if you can’t.
The core documents
- Will: who gets what, and a guardian for minor children.
- Financial power of attorney: someone to handle money matters if you’re incapacitated.
- Health care directive / proxy: your medical wishes and a decision-maker.
- Living trust (optional): can help avoid probate and manage assets.
DIY or lawyer?
Simple situations can start with a free template: see our sister site’s will template. Use a lawyer for blended families, a business, significant assets, special-needs beneficiaries or property in several states.
Don’t forget beneficiary designations
Retirement accounts and life insurance pass by beneficiary forms, not your will. Keep them current.
Frequently asked questions
How much does a will cost?
Lawyers often charge a flat fee for a simple will, and more for trust-based plans. Our cost estimator gives typical ranges.
Questions from readers
Question about Wills, trusts & estate planning? Ask it here. We answer common questions in general terms on this page. This is not legal advice, and we can’t take your case.
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