While many think of estate planning as something to handle later in life, the truth is that good plans are made well before they’re ever needed. As highlighted in Sun Post’s article, “Guidelines for estate planning, from a Golden Valley attorney,” the best time to create your estate plan is now—regardless of your age.
Having a comprehensive estate plan gives you peace of mind and spares your loved ones from unnecessary stress, confusion, and court involvement. Here are the essential components every estate plan should include:
Healthcare Directive (or Power of Attorney for Healthcare)
This document allows you to designate someone you trust to make medical decisions if you become unable to speak for yourself. It also lets your loved ones know your wishes regarding life support, organ donation, and end-of-life care—ensuring your values are honored during a healthcare crisis.
Durable Financial Power of Attorney
If you become incapacitated, someone will need legal authority to manage your finances—pay bills, handle insurance, manage investments, and maintain your property. A financial power of attorney ensures a smooth transition of control without the need for court involvement.
Will
A will is the foundation of any estate plan. It outlines how you want your assets distributed, names a guardian for minor children, and designates your executor. Without one, the court follows your state’s laws—which may not reflect your wishes.
Trusts (When Applicable)
Trusts are a powerful tool for avoiding probate, maintaining privacy, and ensuring complex estates are managed according to your wishes. A revocable living trust can be especially helpful if you own property, have young children, or want to control how your assets are used over time.
Beneficiary Designations and TOD Accounts
Make sure retirement accounts, insurance policies, and bank accounts have current beneficiary designations. Some financial accounts can also be set up as “Transfer on Death” (TOD), allowing them to pass directly to heirs without probate.
Storage and Accessibility of Documents
Be sure your estate planning documents are stored in a secure but accessible location. Safe deposit boxes are not always the best option, as they can be sealed after death and require a court order to open. Your executor or trusted family members should know how to access your documents when needed.
Keep It Updated
Your estate plan isn’t a “set it and forget it” task. Life events like marriage, divorce, the birth of a child, or changes in the law can all impact your plan. Review your estate plan every 3–5 years—or sooner if you experience a major life change.
No matter your age, having an estate plan in place is a powerful act of care and responsibility. At The Werner Law Firm, our experienced Frisco estate planning attorneys are here to help you create or update your plan so it reflects your wishes and protects the people you love.
If you have any questions, schedule a free appointment with us through our online appointment page.
You can also read reviews from some of the hundreds of clients we have helped over the years.
Reference: Sun Post (March 20, 2025) “Guidelines for estate planning, from a Golden Valley attorney”
Founded in 1975 by L. Rob Werner, The Werner Law Firm and our dedicated attorneys are available for clients, friends, and family members to receive the legal help they need and deserve. You can trust in our experience and reputation to help navigate you through your unique legal matters.
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If you’re looking into taking care of your estate planning, we urge you to schedule a free initial appointment today and join the many satisfied clients who have contacted Werner Law Firm.
