Frequently Asked Questions
about Estate Planning

What is an estate plan?

An estate plan is a series of documents which outline how a person wishes to handle their property, personal possessions, money, and medical care when they are elderly and after they have passed away.

What is probate?

Probate is the process by which some of the money and property of a person is distributed after death. It can happen with or without a will. The process can take anywhere between 3 months to years depending on the size and complexity of what the person left behind.

What is the difference between a will and trust?

A will is a document which outlines how someone’s property and cash is distributed after they pass on. It is used during probate.

A trust is a document which outlines how someone’s property and cash will be distributed. It can apply at the time of their death and avoids the property and cash going to probate.

What is a Financial Power of Attorney?

A financial power of attorney is a document which allows a person to make financial decisions on your behalf. It is important to note, that it would still allow you to make decisions on your own behalf. Certain government agencies require additional forms for someone to make financial decisions on your behalf before them. They are legally required to make decisions on your behalf.

You can have multiple people have financial power of attorney, but there is no requirement that they work together.

What is a Medical Power of Attorney?

A financial power of attorney is a document which allows a person to make medical decisions on your behalf. It is important to note, that it would still allow you to make decisions on your own behalf.