What Estate Planning Documents Do I Need?

The essential estate planning documents you need will depend on your life situation. For most people the key elements of a complete estate plan are:

A will
A trust
A health care proxy
Power of Attorney
Appropriate beneficiary designations on your investment accounts, life insurance, etc.

If you are young, single and have no children, you may not need a trust. In most other circumstances, including trusts in your estate plan can give you greater flexibility, help your family avoid probate, and in some cases help your family avoid or minimize estate taxes and protect assets from the costs of assisted living in the future.

Learn more here about the essential estate planning documents at different stages of life.