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What Is Estate Planning and What Documents Should Be Included in Yours?

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Will: A will designates who you want to inherit your property and belongings, appoints a guardian for your child, and becomes active only after your death.

A will must go through probate, which varies from state to state, but generally takes about three to six months to complete.

Wills are the most common estate planning document, but you can also create a trust, which can replace a will in some cases.  Trust: Trusts are similar to wills in that they allow you to designate who inherits your belongings and makes plans for your children.

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