A simple form of estate planning is to create a Will. Your Will directs how your property will be distributed upon your death. Lacking a Will, your property is distributed according to state law, which does not necessarily take into account your wishes. The type of documents needed depends upon each person's individual situation and needs. Not only are the requirements unique between each person, but your own needs will change over your lifetime.
Estate planning is an ongoing process.
Last Will and Testament Preparing a Last Will and Testament is a selfless act for the benefit and protection of your loved ones. A Will provides for the distribution of solely held assets. For larger estates, a Will can provide tax savings through the use of trusts within the Will. A Will also provides protection for your children. With the birth or legal adoption of a child, you are faced with many unique issues.