Estate Planning Dbq
What Does Estate Planning Entail?
Many individuals, when they think of estate planning, automatically bring to mind a last will and testament, yet this field encompasses a great deal more. Documents that outline how a person wishes their assets to be distributed, their pets to be cared for, who will be named guardian of any minor children and more fall under this field of law. In addition, when children with special needs are involved, regardless of their age, estate planning is designed to ensure they receive the care they need throughout life. When …show more content…
yet nothing is further from the truth. All individuals actually have an estate plan, regardless of whether they have planned it or not, as the state puts their plan into place for anyone who doesn't have these documents prepared. For example, when parents die without a will, the state determines who will take custody of the children. Anybody who wants to have more control over what happens to their belongings, their children and their money will need an estate plan, even if they have very few assets to speak