Estate planning is the process of legally preparing for eventual death. During the estate planning process, you will work with your estate planning attorney to name the guardian of any minor children, decide who will make personal, medical and financial decisions for you if you are unable, direct distribution of your assets, give directions regarding the disposition of your remains, and more.
When you reach legal adulthood, you become responsible for deciding what you want to happen upon incapacity or death. If you don’t have legal documents specifying the person who controls financial and healthcare for you or determining where your assets go, a court of law will make these decisions for you. The results may be contrary to your wishes.
Probate is the legal process of distributing a deceased person’s estate. A judge determines the validity of a will, if it exists, grants authority to a legal representative of the estate (an executor if a valid will exists) and presides over the process of liquidation and distribution of assets.