What Is Included in an Estate Plan?
An estate plan is a set of coordinated legal documents designed to protect you during your lifetime and provide clear direction for your loved ones after your death. Each document serves a specific purpose, and together they create a thoughtful, comprehensive plan tailored to your needs.
What Is a Power of Attorney?
A Power of Attorney authorizes someone you trust to handle financial matters on your behalf if you are unable to do so. This person, known as your agent, has a fiduciary duty to act in your best interests.
Because a power of attorney grants broad authority, careful drafting and agent selection are critical. Generic or improperly prepared documents can create confusion or require court involvement. A power of attorney is effective only during your lifetime and ends at death, which is why it must be coordinated with your Will and/or Trust.
What Is an Advance Health Care Directive?
An Advance Health Care Directive allows you to name someone to make medical decisions on your behalf if you are unable to communicate your wishes. It also documents your treatment preferences, addresses end-of-life decisions, and may designate a guardian if one is ever needed.
We prepare health care directives that comply with Georgia law and clearly communicate your wishes to your loved ones and medical providers.
What Is a Will?
A Will is a legal document that directs how your assets will be distributed after your death and names the person responsible for administering your estate. It may also designate guardians for minor children or other dependents.
A Will must go through probate, a court-supervised process that confirms the Will as your final expression of intent. During probate, the executor identifies and values assets, pays debts and taxes (if applicable), and distributes property to beneficiaries. Probate is often viewed as time-consuming and costly; however, with proper planning, the burden on your family can often be reduced.
What Is a Trust?
A trust is a legal arrangement in which a trustee manages assets for the benefit of one or more beneficiaries. There are many types of trusts, and not all trusts are created as separate documents during your lifetime.
In some cases, a trust is created within a Will (commonly called a testamentary trust). This type of trust is established at death and becomes effective through the probate process. It may be appropriate when probate is not a primary concern, but ongoing management of assets—such as for minor children or other beneficiaries—is desired.
In other cases, a trust is created during your lifetime (often referred to as a revocable living trust). A living trust can help avoid probate, maintain privacy, and provide continuity in the event of incapacity. Assets titled in the name of the trust do not pass through probate.
At Susan Floyd Law, we explain the differences between these options and help you determine whether a trust should be created during your lifetime, through your Will, or whether a trust is needed at all—based on your goals, assets, and family circumstances.
How These Documents Work Together
Together, these documents form a coordinated plan designed to protect you, reduce stress for your loved ones, and provide clarity when it matters most.