Yes! Estate planning isn’t just for the wealthy. It ensures your assets go to the right people, helps avoid family disputes, and includes important directives like healthcare and financial power of attorney.

If you pass away without a will (intestate), state laws determine how your assets are distributed, which may not align with your wishes. This can also lead to delays, legal fees, and complications for your loved ones.

Probate is the court-supervised process of distributing assets and settling debts after death. It can be time-consuming and costly. Using trusts, beneficiary designations, and joint ownership can help avoid or simplify probate.

Your executor (for a will) or trustee (for a trust) should be someone responsible, organized, and trustworthy. This can be a family member, close friend, or a professional (such as an attorney or financial institution).

Review and update your estate plan after major life events, such as marriage, divorce, having children, acquiring new assets, or changes in tax laws. Experts recommend reviewing it every 3-5 years.