Must-Have Estate Planning Documents
August 2025
Estate planning isn’t just about looking ahead, it’s about protecting your legacy, mitigating taxes, and ensuring your wealth is transferred smoothly and in line with your wishes.
A thoughtful, well-designed estate plan can help you avoid probate, preserve wealth across generations, and provide peace of mind for you and your family.
This guide walks you through the essential estate planning documents everyone should have in place.
Frequently Asked Questions:
Why do I need a legal will?
If you die without a valid will—called dying intestate—the court determines who inherits your assets according to state law, regardless of your intentions.
How can I keep the details of my estate private?
When a will goes through probate, it becomes part of the public record. By putting your assets in trust, you can avoid this court-supervised process and protect your family’s privacy.
What’s the difference between a living will and an advance healthcare directive?
Technically, a living will be a type of advance healthcare directive, which refers to any legal document that outlines your wishes for future medical care. In some states, the terms are used interchangeably.
1. Last Will and Testament
A will is a foundational legal document that details how you want your assets distributed when you pass, names guardians for minor children, dependents, and pets, and appoints an executor to oversee your estate.
Key takeaways:
- Avoids state intestacy laws that apply if you die without a valid will
- Ensures your estate is divided according to your wishes
- Allows you to make specific bequests or charitable gifts
2. Irrevocable Trusts
Irrevocable trusts are a powerful way to preserve, protect, and transfer significant wealth while minimizing taxes. Depending on your goals, your advisory team can help you explore options like charitable trusts or grantor retained annuity trusts (GRATs) to support your legacy and care for the people who matter most.
Key takeaways:
- Avoids probate, enabling faster, private distribution of assets
- Controls how and when heirs will receive their inheritance
- Shields wealth from creditors and lawsuits
3. Durable Power of Attorney (POA)
A Durable Power of Attorney allows you to appoint a trusted person to manage your financial affairs if you become physically or mentally incapacitated. This can include paying bills, handling investments, selling property, and making legal or business decisions on your behalf.
Key takeaways:
- Maintains cash flow for your loved ones during a health crisis
- Avoids court intervention for financial decision-making
- Provides continuity in the management of your affairs
4. Medical Power of Attorney (POA)
A Medical Power of Attorney allows you to appoint a healthcare proxy to make your medical decisions if you become seriously ill, injured, or otherwise unable to communicate your wishes.
Key takeaways:
- Ensures your healthcare preferences are respected
- Helps prevent family disputes during emergencies
- Provides a dedicated advocate for your care
5. Living Will / Advance Health Care Directive
A living will outlines your wishes for emergency and end-of-life medical care if you’re unable to speak for yourself. It can cover decisions like resuscitation, feeding tubes, life support, and organ donation.
Key takeaways:
- Gives clear guidance to your medical POA and healthcare providers
- Helps ensure your care reflects your values and wishes
- Brings peace of mind to your loved ones
Tip: Be sure to include a HIPAA Authorization form in your plan. Without it, your healthcare proxy may be unable to access your medical records or speak with your doctors, potentially delaying important medical decisions and treatment.
6. Asset Inventory & Beneficiary Designations
Keeping your asset inventory up to date—and making sure your beneficiary designations are accurate—is essential to effective estate planning. Titles, deeds, and named beneficiaries on accounts like retirement plans and life insurance often override what’s written in your will. If those details are outdated, your assets could end up in the wrong hands.
Key takeaways:
- Minimizes family conflict or confusion
- Preserves privacy by avoiding probate
- Helps ensure your property goes to the right people
Tip: Don’t forget to include digital assets—like online bank accounts, subscriptions, social media profiles, and personal and business data—in your inventory. You may also want to name a digital executor to manage, transfer, or close your accounts and guard against hacking, identity theft, or other cyber threats.
We Can Help
Estate planning isn’t a one-time task, it’s a continuous process that should evolve as your wealth, family circumstances, and goals change.
Whether you’re creating a plan for the first time or updating an existing one, our dedicated team can work with your estate planning attorney and tax advisors to help ensure your documents are current, legally sound, and aligned with your wishes.