Estate planning

Almost every adult. If you own anything, have a family, or care who makes decisions for you, a plan helps.

It can name guardians, say who inherits, plan for incapacity, and reduce delays and stress for your family.

Now. You do not need to be older or wealthy, and life events can arrive without warning.

A will, powers of attorney, advance directives, up-to-date beneficiary designations and, for some, trusts. Life insurance often provides cash for your family.

They support each other. Your financial plan builds and protects assets. Your estate plan says where they go.

Many people do. Beneficiary designations, jointly owned property and trusts can pass things outside a will. An attorney can tell you what applies.

Yes. You still choose who inherits and who makes medical and financial decisions for you.

Each of you usually has your own documents, built to work together. An attorney can advise on your state's rules.

State law decides who inherits and who raises minor children, which may not match your wishes, and a court may choose someone to act for you.

Sometimes. Assets with named beneficiaries, such as life insurance, generally pass outside probate. Trusts and joint ownership can also help. Ask an attorney.

After marriage, divorce, a new child, a move, a big change in assets, or a death in the family. Review it every few years either way.

The federal estate tax applies only above a high threshold that changes over time. Some states have their own estate or inheritance taxes. A tax professional can tell you what applies to you.

Strategies exist, and life insurance can provide cash to cover costs. They depend on your situation, so work with an attorney and tax professional, and we can explain the insurance.