Estate Planning
Wills, trusts, probate, and powers of attorney.
20 guides
- Being named executor: your duties
An executor is the person named in a will to deal with the deceased person’s estate. The role usually involves finding and valuing assets, paying valid debts and taxes, dealing with probate, and distributing what remains to the beneficiaries.
- Beneficiary designations and why they override your will
A beneficiary designation is an instruction naming who receives a particular asset when you die, such as life insurance, a pension, a retirement account, or some bank and investment accounts. Because those assets usually pass under a contract, trust, or account rules rather than through your will, the designation commo
- Contesting a will
Contesting a will means asking a court to reject all or part of a will, usually because of problems with its signing, the will-maker’s mental capacity, pressure or deception, or a later will. A separate type of claim asks for financial provision even though the will is valid.
- Digital assets after death
Digital assets can include online accounts, cryptocurrency, domain names, electronically stored records, photographs, and loyalty points. After death, the person’s estate may be entitled to some of these assets, but access and transfer often depend on the asset’s terms of service, privacy law, encryption, and whether a
- Do you need a will?
You do not legally need a will in every situation, but having one often makes it clearer who should receive your property and who should handle your affairs after death. Without a will, intestacy laws decide who inherits, and those rules may not match your wishes or deal well with blended families, unmarried partners,
- Elder financial abuse: warning signs and steps
Elder financial abuse is the improper or unauthorized use of an older person’s money, property, benefits, or financial authority. It can involve family members, caregivers, professionals, strangers, or scams, and may occur even when the older person appears to agree.
- Funeral costs: who pays
Funeral costs are commonly paid from the deceased person’s estate, but someone usually has to arrange and initially pay for the funeral. The person who signs the funeral contract may be personally responsible to the funeral provider, even if the estate is later expected to reimburse that cost.
- Guardianship for an ageing parent
If an ageing parent is in immediate danger, contact emergency services first. Guardianship is a court-supervised arrangement for someone who cannot make or communicate important decisions, but less restrictive options—such as a power of attorney—may be available.
- Healthcare directives and living wills
Healthcare directives, including living wills and health-care powers of attorney, let you record treatment preferences and name someone to make health decisions if you cannot make them yourself. The rules about signing, witnessing, decision-making authority, and recognition of documents vary significantly by country, s
- How probate works
Probate is the court-supervised process commonly used to confirm a deceased person’s will, authorize someone to deal with the estate, identify and pay debts and taxes, and transfer remaining property. The process depends on the location, the type and value of property, whether there is a valid will, and whether anyone
- Inheriting a house with siblings
When siblings inherit a house, they usually become co-owners or beneficiaries of an estate that owns the property. The process commonly involves proving the will or applying intestacy rules, paying debts and taxes, deciding who will live in or manage the house, and agreeing whether to sell, transfer, or keep it.
- Joint accounts and what happens when an owner dies
When a joint account owner dies, the surviving owner may be able to continue using the account, but the result depends on the account agreement, local law, and what the owners intended. The money may pass automatically to the survivor, or some or all of it may belong to the deceased person’s estate and be dealt with un
- Leaving money to minors
Leaving money to a minor usually requires more planning than naming the child in a will, because a minor generally cannot control or give a valid receipt for a substantial inheritance. A will can appoint an adult to manage the money, create a trust with instructions, or use a legally recognized custodial arrangement.
- Paying for care homes and protecting assets
Care-home costs are usually assessed against the person’s income, savings, investments, property, and sometimes transfers made to others. Wills generally control what happens after death and do not, by themselves, protect assets from care fees during life.
- Power of attorney: what it is and when you need one
A power of attorney is a legal document that lets another person act for you, usually in financial, business, property, or health-care matters. Its effect depends on the document’s wording and local law, and it may end when you die or when you revoke it.
- Small estates without full probate
A small estate may be transferred through a simplified process instead of full probate when the estate is below a local value limit and meets other legal conditions. The process commonly involves an affidavit, court certificate, or direct application to a bank or institution, but it does not usually eliminate valid deb
- Trusts versus wills
A will and a trust can both help arrange what happens to your property, but they work in different ways and at different times. A will generally operates after death, while some trusts can operate during your lifetime, including if you become unable to manage your affairs.
- Updating your will after marriage, divorce or children
Marriage, divorce, and the birth or adoption of a child can change whether your will still reflects your wishes and who can inherit. The effect depends heavily on where you live, and a change in family circumstances can also affect beneficiary forms, guardianship arrangements, and jointly owned property.
- What happens if someone dies without a will
When someone dies without a valid will, they are said to have died “intestate.” The law in the place where they lived usually determines who inherits, who can administer the estate, and how debts and taxes are handled.
- What to do in the first week after a death
The first week after a death usually involves confirming the death, arranging care of the body, informing close relatives, locating important documents, and protecting the deceased person’s home and property. Estate administration, including debts, taxes, probate, and distribution of assets, generally takes much longer