The five documents every adult should have in place—no matter your age
As I meet with individuals, there is often a misconception as to who needs an estate plan. The word “estate” seems to denote large amounts of money and conjures up images of finely manicured gardens and mansions with spiraling staircases. The truth is, every adult should have a few essentiallegal documents in place, no matter your age or stage in life. Here are the five estate planning documents everyone should consider:
1. Last Will and Testament
A will is the cornerstone of any estate plan. It ensures your property is distributed according to your wishes, not the state’s default laws. Without one, a probate court will decide who inherits your assets—which may not reflect what you wanted. Even if you don’t own much, a will can designate guardians for minor children, making it one of the most important protections for young families.
2. Durable Power of Attorney
What happens if you’re in an accident or become unable to handle financial matters? A durable power of attorney lets you name a trusted person to manage your finances, pay bills, and handle legal matters on your behalf. Without this document, your loved ones may need to go through an expensive and time-consuming court process just to step in.
3. Advance Health Care Directive (Living Will)
Medical decisions can be overwhelming for families, especially in crisis situations. An advance directive allows you to outline your preferences for medical treatment—such as life support or end-of-life care—and appoint someone to speak with doctors on your behalf if you cannot. It spares your loved ones from painful guesswork during emotional times.
4. HIPAA Authorization
Thanks to privacy laws, doctors may be restricted from sharing medical information—even with close family. A HIPAA release ensures your chosen people have access to medical updates and records if needed. This simple form can make all the difference in a medical emergency.
5. Revocable Living Trust (Optional, but Powerful)
While not everyone needs a trust, many benefit from one. A revocable living trust allows your estate to avoid probate, keeps your affairs private, and provides for a smoother transfer of assets to loved ones. For families who own a home or have children, a trust can be a smart way to protect assets and minimize delays.
The Bottom Line
Estate planning isn’t about age or wealth—it’s about preparation. With just a handful of documents, you can make things easier on your loved ones and ensure your voice is heard, no matter what the future brings. A little planning today can bring a lifetime of peace of mind.
