Estate and Incapacity Planning Documents

Free CFP Exam lesson in Estate Planning. 13 min read, ~2,019 words.

Bottom Line. A will controls only probate assets and has zero effect during the testator's lifetime. A revocable living trust avoids probate and provides seamless incapacity management, but does not reduce estate taxes. A durable power of attorney covers financial decisions during incapacity (non-trust assets). A healthcare proxy names a...