Estate planning is the process of anticipating and arranging, during a person’s life, for the management and disposal of that person’s estate during the person’s life, in the event the person becomes incapacitated and after death.

It’s merely a Wish. A Will is a written directive that includes instructions about who is to settle your estate (the executor), who is to be the guardian for any minor children, and how property is to be distributed to your heirs. But is a Will enough? Probably not. A Will may not protect your assets from certain expenses, and it won’t help your loved ones make decisions in the case of a catastrophic illness or injury. A Will may be only one of the documents you need and one of the factors you should consider when it comes to managing your estate. A Will must go through probate, which allows your limited control. A living Will provides specific instructions about your medical care if you become incapacitated and unable to communicate.

A Power of Attorney document authorizes someone to handle legal and financial decisions.

Probate is a matter of public record. If you aren’t willing to publicize your assets while you’re alive, why would you want to when deceased?
When you die, even if you have a Last Will & Testament, your estate will have to go through a potentially lengthy legal process known as probate. Probate generally starts with the Executor you name in your Will, filing the Will, with the probate court. If you do not have a Will the court will name an Administrator and follow state intestacy law. The Executor (or Administrator) is required to identify and notify creditors of the probate court action. All debts will be settled and Tax returns filed, prior to any distributions of the estate. A waiting period is required, notification in writing, and public notice (newspaper) is required to allow creditors time to file their claims. Your Executor will oversee the distribution of your property according to the terms of your Will. Probate rules vary by state