![]() Some people even include a letter of instruction with their estate to walk their family members through the documents. Most of this process consists of creating and finalizing estate planning documents, such as wills, trusts, powers of attorney, and living wills. At the very least, everyone should have a simple estate plan in place. The biggest benefit of estate planning is peace of mind-you’ll know your wishes will be fulfilled for the benefit of your loved ones. This type of planning helps determine who can make decisions on your behalf, who takes care of your dependents, and how to avoid unnecessary taxes and waiting periods.Įstate planning covers any decisions regarding money, property, medical care, dependent care, and other matters that can arise when a person dies. Organizing your affairs in preparation for the end of your life is an important task, and estate planning is an ongoing process that includes much more than writing a will.
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