Estate planning is the process of creating legal documents and strategies to manage your assets during your lifetime and distribute them after your death. It can also include planning for incapacity, healthcare decisions, and minimizing taxes and court involvement. 

Yes. Estate planning is not just for the wealthy. An estate plan can help ensure your wishes are followed, protect your loved ones, designate guardians for minor children, and avoid unnecessary legal complications. 

If you die without a will, your assets will be distributed according to state intestacy laws. The court will determine who inherits your property, which may not align with your wishes. 

A will outlines how your assets should be distributed after your death and generally goes through probate. A trust can hold and manage assets during your lifetime and after death, often helping beneficiaries avoid probate and maintain privacy. 

Probate is the court-supervised process of validating a will, paying debts, and distributing assets. Depending on the estate, probate can be time-consuming, costly, and part of the public record. 

A living trust is a legal arrangement that allows you to transfer assets into a trust during your lifetime. You can typically maintain control of those assets while alive, and they can pass to beneficiaries without probate upon your death. 

A power of attorney is a legal document that authorizes someone you trust to make financial or legal decisions on your behalf if you become unable to do so yourself. 

An advance healthcare directive allows you to document your medical wishes and appoint someone to make healthcare decisions for you if you become incapacitated. 

Most attorneys recommend reviewing your estate plan every three to five years or whenever you experience a major life event, such as marriage, divorce, the birth of a child, retirement, or a significant change in assets. 

The cost varies depending on the complexity of your situation and the documents needed.