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Estate Planning Resources
Knowledge is the first step toward protecting your family. Explore our library of articles, guides, and frequently asked questions about estate planning, trusts, and wealth transfer.
The 5 Documents Every Adult Needs Regardless of Net Worth
Estate planning isn't just for the wealthy. Whether you're a young professional, a growing family, or approaching retirement, there are five documents that every adult should have in place. Without them, you leave critical decisions to the courts, and the results are rarely what you'd choose.
These five documents, a will, revocable living trust, financial power of attorney, healthcare power of attorney, and advance healthcare directive, form the foundation of any estate plan.
Schedule a Plan ReviewArticles & Guides
What Happens If You Die Without a Will?
Learn about intestacy laws, how courts distribute assets without a will, and why every adult needs at least a basic estate plan.
Revocable vs Irrevocable Trusts: What's the Difference?
Understanding the key differences between these two trust types, and when each one makes sense for your estate plan.
How Life Insurance Fits Into Your Estate Plan
Life insurance isn't just about replacing income. Discover how it solves estate tax problems, equalizes inheritance, and funds business transitions.
Business Succession Planning: A Guide for Owners
Your business is likely your largest asset. Learn the essential steps to protect it and ensure a smooth transition to the next generation.
Estate Tax Planning: How to Protect Your Heirs
Estate taxes can consume a significant portion of your legacy. Discover strategies to minimize the tax burden on your heirs.
Why You Need a Power of Attorney Now
A power of attorney isn't just for the elderly. Learn why every adult needs one and what happens when you don't have one.
Frequently Asked Questions
A revocable living trust is a legal document that holds your assets during your lifetime and distributes them after death without going through probate. If you own real property, have minor children, or want to keep your affairs private, a trust is almost always recommended.
Digital assets like social media accounts, cryptocurrency, and online financial accounts need to be included in your estate plan. Without specific instructions and access information, these assets can be lost or inaccessible to your family.
In most states, you can disinherit anyone except a spouse (who typically has legal rights to a share of the estate). Disinheriting requires specific, intentional language in your documents. Simply leaving someone out of a will may not be sufficient.
An ILIT is a trust that owns your life insurance policy, removing the death benefit from your taxable estate. This can save hundreds of thousands in estate taxes for families with larger estates. The trust is irrevocable, meaning you give up ownership of the policy.
A properly drafted trust can include spendthrift provisions that protect inherited assets from a beneficiary's creditors, lawsuits, and divorce proceedings. This is especially important for families leaving significant assets to younger beneficiaries.
The federal estate tax exemption is $15 million per person ($30 million per married couple) in 2026, made permanent by the One Big Beautiful Bill Act signed in July 2025. The annual gift tax exclusion is $19,000 per person in 2026. Even with the higher exemption, proactive planning remains important for asset protection, probate avoidance, and ensuring your wishes are carried out. Patricia can help you understand your current exposure and design strategies to minimize taxes.
Absolutely. Estate planning isn't just about death. It's about incapacity too. An accident or illness at any age could leave you unable to manage your affairs. Powers of attorney and healthcare directives are essential for every adult.
Patricia designs the overall planning strategy and identifies the insurance and financial solutions that support it. She then works alongside qualified estate planning attorneys who draft and execute the legal documents. This team approach ensures your plan is both comprehensive and legally sound.
Have questions about your estate plan?
The best way to learn about estate planning is to have a conversation about your specific situation. Schedule a complimentary consultation with Patricia Wells.
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