The core estate planning documents, explained in plain English
Wills, trusts, powers of attorney, healthcare directives — here’s what each one generally does, so you can walk into an attorney conversation already understanding the landscape.
You don’t need to be an expert to start. But knowing what these documents are — in general terms — makes the whole process less intimidating. Below is a plain-language overview. Which documents you actually need, and what goes in them, is a legal decision your attorney makes for your situation.
Last Will and Testament
A will sets out how you want your assets distributed after you pass, and lets you name a guardian for minor children. It’s foundational — but note that a will generally still goes through probate.
Living Trust
A trust can hold assets and pass them to your beneficiaries outside of probate, often with more privacy and control over timing. Families frequently hear about “revocable living trusts” for this reason. A trust only works if it’s properly set up and funded — both legal tasks for your attorney.
Power of Attorney (POA)
A POA lets you name someone to make financial or legal decisions on your behalf if you’re unable to. Without one, your family may have to go to court to gain that authority — a slow process at a hard time
Living Will / Advance Directive
This documents your wishes about medical treatment and life support if you can’t speak for yourself, so your family isn’t left guessing during a crisis.
Healthcare Surrogate / Proxy
This names a person to make healthcare decisions for you if you’re incapacitated — distinct from the living will, which records your wishes.
HIPAA Authorization
This allows named individuals to access your medical information, so the people making decisions for you can actually get the information they need.
Specialized trusts
Depending on your situation, an attorney might discuss tools such as a special needs trust (to protect a dependent’s care and benefits) or a trust to manage assets left to minors. These are advanced legal instruments — firmly attorney territory.
A note on “will vs. trust.”
This is one of the most-searched estate questions — and the honest answer is “it depends on your situation,” which is exactly why it’s a legal decision. The two aren’t either/or; many plans use both. An attorney can explain what fits.
Where I come in
Documents direct where things go. They don’t create the cash to cover taxes, debts, and expenses, or to replace lost income for the family left behind. That’s the funding layer — and it’s my role. Once your attorney structures the documents (I can connect you with attorneys through NetLaw’s platform, available through my HGI affiliation, if needed), I help make sure the plan is actually funded.
Educational information only — not legal advice. Anil Khanchandani is a licensed insurance producer, not an attorney, and does not draft legal documents. Estate documents are prepared by licensed attorneys; through Anil’s affiliation with HGI, clients can access NetLaw’s attorney-led platform. Please consult a qualified attorney about your situation.
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