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What is The Difference Between Will And Estate Planning?

One of the last things that people tend to do while they are still lucid enough to make decisions for themselves is usually hiring someone to draft a will on their behalf once all has been said and is now out of the way. The reason behind this is that you would likely have a lot of assets that you have acquired during the several decades in which you have been alive, and suffice it to say that you would want these assets to be disbursed according to your desires rather than them becoming a free for all wherein the first person to get their hands on them is able to keep them.

However, there is another kind of legal document that you might be interested in, and while it is similar to a will it is also quite distinct in that many of its requirements will apply while you are still alive. This is called an estate plan, and if you want more info we are going to give it to you! To put it plainly, estate planning involves deciding who gets what before you die rather than waiting until after your death.

Hence, if you still have a few years to live but you want assets to be distributed before you die so that you can be more certain that things are done according to your wishes than might have been the case otherwise, estate planning might be a better option than a will. Most elder lawyers that draft wills can help you out with estate planning as well, so this is not something that you would need to look for a specialist for.