Why a Will is Not an "Estate Plan"
Many people think that they all they need to have an "Estate Plan" is to get a Will.
This is a mistake. In fact, a Will is not really an "Estate Plan" at all, since a Will without a Trust, Power of Attorney, Health Care Directive and Living Will -
- does not protect you, your assets, your spouse, children or other heirs if you become incapacitated, disabled, or simply disappear;
- does not protect your assets, spouse, children or other heirs from creditors after your assets have become available to them.
The chart set forth below explains several distinctions between a Will and an "Estate Plan."
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