Recently, it struck me that as an estate planning attorney I often do a poor job of adequately explaining the fundamentals of estate planning on this blog. I try to explain the basics for people here, but I often make the mistake of assuming that the people coming here for information know some things that they do not actually know. That is my fault and I would like to address one area today that some of you will know about, but that some people might not understand.
Some people do not know what an estate plan is. Understanding what an estate plan is is important to know so that you can actually get an estate plan. An estate plan is a group of legal documents that determine how your property will be distributed after you pass away, determine how you will be cared for if you become incapacitated and determine who will care for your minor children if you pass away.
Estate plans do all three of those things, although each estate plan does them in different ways. As you can see it is very simple. Ask an attorney if you would like to know how an estate plan does those things.