Estate Planning
Estate planning isn’t something people deal with every day, but it involves important decisions about your family, your legacy, and how your wishes will be carried out. These decisions can include planning for how assets are disbursed or how end of life choices are made. When its time to make your plan, Aslan Legal Solutions offers practical guidance tailored to your needs.
Wills & Intestacy
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A will is the central component of most estate plans. It is a person’s directive for how their assets are to be distributed upon death and who will be responsible for handling that process. More than anything, a will is a way to express intent—allowing an individual to decide who receives property, in what amounts, and under what circumstances.
Without a will, those decisions are made under the default rules of intestacy. Intestacy laws determine who receives property based on statutory priorities, without regard to an individual’s specific wishes. While those rules are designed to provide a structure, they often do not account for the realities of a particular family or situation.
For example, if an individual intends to disinherit a child, that result can generally only be accomplished through a properly drafted will. Under intestacy, that child would typically still receive a share of the estate. Similarly, a person may wish to leave something to a sibling, a close friend, or another individual outside the immediate family. In the absence of a will, those individuals may receive nothing, particularly where there is a surviving spouse or children who take priority under the statute.
Intestacy can also affect how property is divided among a surviving spouse and children, which may not align with what the individual would have chosen. These outcomes are not based on personal intent, but on fixed rules that apply regardless of the circumstances.
A will allows those decisions to be made deliberately, rather than by default, and provides a way to clearly define how property is to be handled based on the individual’s own intentions
Other Estate Planning
A well-structured estate plan extends beyond a will and includes preparing for situations where an individual may be unable to make decisions. This is typically addressed through documents such as powers of attorney and medical directives, which designate who can act and what decisions can be made.
A power of attorney generally addresses financial and legal matters and can be tailored based on the scope of authority granted. Depending on the document, this may include the ability to access bank accounts, manage financial transactions, buy or sell real estate, enter into contracts, or otherwise handle business and personal affairs. The scope of these powers can be broad or limited depending on the individual’s preferences.
Medical decision-making is addressed separately. A medical power of attorney allows a designated person to make healthcare decisions if the individual is unable to do so. A medical directive, often referred to as a living will, allows an individual to express preferences regarding medical treatment, particularly in end-of-life situations. These documents serve different purposes but are often used together to provide both guidance and authority.
Estate planning may also include instructions relating to matters such as burial preferences, organ donation, and other personal decisions. While these issues are often overlooked, they can be important to ensure that an individual’s wishes are known and followed.
Without these documents in place, decision-making authority may not be clear, and in some cases, court involvement may be required to appoint someone to act. Having these matters addressed in advance helps ensure that decisions relating to healthcare, finances, and other personal matters are handled by the appropriate person and in accordance with the individual’s wishes
Trusts
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In some situations, a trust may be used as part of an estate plan to provide additional structure and flexibility in how assets are managed and distributed. Trusts can serve a variety of purposes depending on the goals involved, including controlling when and how assets are transferred, managing assets for beneficiaries, or planning for specific family or financial circumstances.
Trusts are often categorized as revocable or irrevocable, depending on whether they can be modified after they are created. A revocable trust is typically used to retain control during life while providing a mechanism for assets to be managed and distributed after death. An irrevocable trust, by contrast, generally involves transferring assets into a structure that cannot be easily changed, and may be used in more specific planning situations.
One commonly discussed aspect of trusts is their ability, in certain cases, to allow assets to pass outside of the probate process. Whether that is a primary goal or simply one factor among many depends on the overall plan and the nature of the assets involved.
Trusts are not necessary in every situation, and whether they are appropriate depends on the size and type of the estate, the individuals involved, and the objectives of the plan. When used appropriately, they can provide an additional layer of planning beyond what a will alone may accomplish.
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