What is Estate Planning & Do I need an Estate Plan? Estate Planning is the term used for getting your affairs in order and includes naming beneficiaries on life insurance or retirement accounts as well as more complicated tasks like setting up a trust to hold assets for a minor child upon your passing to ensure they have funds for their care. Estate Planning is not just for those with a high net worth. In fact, everyone should have some plan in place even if it is just a health care proxy or a simple will nominating a guardian for a child. Having a health care proxy, durable power of attorney, an emergency guardianship proxy (for minor or adult disAbled children), naming beneficiaries, having a Will with a nominated permanent guardian for a child will all help to substantially lower the amount of legal costs and stress on your loved ones. Without these documents, a court proceeding would be needed if you were incapacitated or upon your passing in order for your affairs to be taken care of.

If I already have a Will or other estate planning documents, do I need a new one? Can I just amend them?

I just got divorced, do I need a new Will or other documents?

My child is turning 18 soon. Do they need an estate plan? Do I need a new Will since I no longer need a guardian named for them?