What is an Estate Plan?

An Estate Plan is a plan that provides for the distribution of a person’s assets after they pass away. It is also sometimes referred to as a “will” or “trust.” Generally, an estate plan will include a directive outlining how the deceased individual’s property, money, and other assets should be distributed upon their death. In the District of Columbia, Disability Planning Law extends the basic provisions of estate planning. The law also covers other important documents such as living wills, health care powers of attorney, and financial powers of attorney. This type of planning is especially important in the District of Columbia to ensure that a person’s financial and medical wishes are followed in the event of incapacitation or death. An important part of an estate plan is appointing an executor, who will be responsible for administering the estate and carrying out the estate plan. The executor is typically a family member or a trusted friend who will be in charge of carrying out the instructions laid out in the estate plan. It is important to choose this individual carefully, as they will be responsible for making sure the deceased’s wishes are carried out. Overall, an Estate Plan is a plan that is designed to provide for the distribution of a person’s assets after they pass away. In the District of Columbia, Disability Planning Law provides additional protection to ensure that a person’s wishes are followed in the event of incapacitation or death. An important part of an estate plan is appointing an executor, who will be responsible for carrying out the instructions outlined in the plan.

Related FAQs

What is a supplemental security income (SSI) trust?
What is a private disability insurance policy?
What can a Durable Power of Attorney do?
Who should I name as the trustee of my Special Needs Trust?
How do I apply for a Guardianship?
How do I apply for SSDI benefits?
What is a testamentary trust?
What is a long-term disability insurance policy?
What are the legal requirements to qualify for disability benefits?
What is Disability Planning Law?

What is an Estate Plan?

Related FAQs

Related Blog Posts