Estate planning experts outline five key documents for asset distribution and decision-making
Updated
Updated · The Wall Street Journal · Apr 28
Estate planning experts outline five key documents for asset distribution and decision-making
12 articles · Updated · The Wall Street Journal · Apr 28
Experts highlight a will, durable power of attorney, healthcare power of attorney, living will, and HIPAA authorization as essential, noting only 32% of adults have a will according to a 2025 Pew survey.
These documents help ensure individuals' wishes are followed, prevent costly court proceedings, and minimize family disruption after death or incapacitation. Legal preparation can cost up to $5,000, though online options are more affordable.
Experts recommend consulting attorneys for complex estates, while online services like Trust & Will suit simpler needs. Additional forms, such as standby guardianship, may be advised depending on state laws.
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