In general, an estate plan needs to do two things: determine what happens if you suffer a disability and plan for what happens after your death. Several factors determine exactly what tools this requires and what should be in your estate plan.
An estate plan is a legal mechanism that outlines what you want to happen to your stuff – from money to your house to your favorite collection – when you cannot control it anymore. Most frequently, we think about it as a way to distribute your assets after you die, but a proper estate plan also addresses what will happen if you are still alive and unable to make decisions on your own.
