The 4 Essential Documents
Last Will and Testament
Without a will, your state's intestate succession laws determine who gets your assets, and a judge decides who raises your minor children.
Financial Power of Attorney
Without this, if you become incapacitated, your family may have to go to court to get permission to pay your bills or manage your finances.
Advance Healthcare Directive
Without this, your family may disagree on your medical treatment if you cannot speak for yourself.
Beneficiary Designations
Beneficiary forms on your 401(k) and life insurance override your will. If they are outdated, an ex-spouse might inherit your retirement account.
Trust Structures
Revocable Living Trust
Allows assets to pass to heirs without public, court-supervised probate.
- • Avoids multiple state probates for real estate
- • Controls when minors receive inheritance
- • Maintains family privacy
Irrevocable Trust
Relinquishes ownership to remove assets from taxable estate or shield from creditors.
- • Estate tax reduction
- • Asset protection from lawsuits
- • Life Insurance Trusts (ILIT)
Coordination is Critical.
A wealth advisor coordinates with your estate attorney to ensure these documents align perfectly with your investment accounts and tax strategy.