DANDELION GUIDE: PLANNING AND SUPPORT
Intro to Estate Planning
Plan Ahead. Protect What Matters.
Estate planning is really about making a plan for what happens to you, your money, and your responsibilities if you become incapacitated or when you die. The goal is to make sure your wishes are clear, your loved ones are protected, and the process is as smooth as possible for your family. Here’s a breakdown:
A Basic Estate Planning Glossary
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(Note, some states require a trust to avoid probate, see below.)
A legal document that says who gets your assets and who will care for minor children.
Without a will, state law decides (this is called intestacy).
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(optional, but powerful)
A legal arrangement that holds assets for your benefit (during life) and transfers them after death, often avoiding probate.
Trusts are common to simplify inheritance. In general, a trust is revocable while you are alive and becomes irrevocable upon death.
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Lets someone you trust manage your finances if you’re unable to, but terminates upon your death.
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Advance Health Care Directive/Living Will: Outlines your wishes for medical care if you can’t speak for yourself.
Health Care Power of Attorney: Names someone to make medical decisions for you.
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Accounts like life insurance, retirement funds, and “payable on death” bank accounts pass directly to the person you name. Including beneficiary designations may be one way to avoid probate.
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Critical if you have children under 18 — you decide who would raise them.
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(informal, but helpful)
Not legally binding, but a place to list passwords, contacts, funeral wishes, or personal messages.
How It Works
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List your assets (home, accounts, insurance, valuables).
Consider debts, taxes, and special needs.
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Who should inherit what?
Who should make decisions if you cannot?
What are your preferences for care, guardianship, or memorials?
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With an estate attorney (best for complex situations) or online tools/templates (okay for simple ones).
It’s best to consult with an attorney to determine the option that works for your estate.
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Follow state rules for signing/witnesses/notaries.
Store the originals in a safe place, and make sure key people know where to find them. Originals are required for the probate process. Provide soft copies to trusted agents, financial advisors, or family members.
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Review after major life changes (marriage, divorce, kids, new property).
✱ Why It Matters
Having an estate plan avoids, or at least minimizes, family disputes.
It helps loved ones bypass probate or handle it more smoothly.
Estate plans protect children and dependents, and ensure your voice is heard, even if you’re incapacitated.
An estate plan can save time, money, and stress for survivors.