Estate Planning & Probate

A will lets you decide who inherits your property, name guardians for minor children, and choose an executor. Without one, state "intestacy" laws decide who gets what, which may not match your wishes — so most adults, especially parents and homeowners, benefit from having one.

A will takes effect at death and generally goes through probate, while a living trust holds assets during your life and can pass them to beneficiaries without probate. Trusts offer more privacy and control but cost more to set up; many estate plans use both.

You die "intestate," and state law dictates how your assets are distributed — typically to a spouse and children first, then other relatives. The court also appoints an administrator and, if needed, a guardian for minor children, without regard to your personal preferences.

Probate is the court process of validating a will, paying debts, and distributing assets. It commonly takes several months to over a year depending on the estate's size, complexity, and whether anyone contests it; some assets and small estates can skip or shorten it.

A power of attorney authorizes someone to act on your behalf — a financial POA handles money and property, and a healthcare POA makes medical decisions if you're incapacitated. A "durable" POA stays effective even after you lose capacity, which is usually the point of having one.