What Is the Difference Between a Will and Estate Planning?

A will is a legal document detailing how you want your assets to be distributed post-death. It can also lay out several other plans, including how your children will be taken care of, who an owned business will be given to, and other factors that directly involve those soon to be deceased. Will’s also include an executor responsible for ensuring these wishes come to fruition. 

Estate planning and elder law involve a broader approach to property distribution. Estate plans often include wills, but this route also involves multiple documents that require an in-depth look at the individual’s wants. Some aspects included are the power of attorney, advanced directives, trusts, and more. 

An estate plan is more than just a single legal document, unlike a will. The most significant differences include the power of attorney and advanced directives. These are legal documents that an individual will sign to authorize another person to act on their behalf, whether it be for financial or medical purposes. An advanced directive helps to detail your decisions about life-prolonging treatment, giving you control until the very end. 

Estate planning is ultimately the best choice when it comes to dealing with your assets post-death. This process may include a will to help you divide your property up for those you love. That said, it also has numerous other documents that give you ultimate control of your life when it is soon to come to an end, allowing you to leave your heirs in the best position.