An estate plan helps ensure your wishes are honored after your death. An estate plan also ensures that someone you trust is making decisions for you if you become legally incapacitated.
If you die without a will, your property will be distributed according to state law, which can often be very different from your wishes. If you have a minor child but no will, the court may have to appoint a guardian other than the one you would have chosen.
Probate is the legal process of settling a deceased person’s estate, including paying debts and taxes and distributing assets. Some probate estates need more court involvement than others.
A common misconception is that having a will avoids probate; it does not. However, if avoiding probate is important to you, there are options for doing so, including creating one or more trusts.
