There are four primary components in an estate plan:
Will
A Last Will and Testament states your wishes for the dispensation of your property, as well as naming a guardian for minor children.
Living Trust
A living trust can allow your family to avoid probate.
Durable Power of Attorney
A durable power of attorney allows one person to act on behalf of another in the event of incapacitation.
Advanced Medical Directive or a Living Will
An advanced medical directive allows you to communicate your wishes for medical decisions.