Estate Planning: The Foundation of Your Legacy

When most people think about estate planning, the first thing that comes to mind is a Will. And for good reason: a Will is a cornerstone of any estate plan. It’s the document that outlines how you want your assets distributed after your death, who should care for your minor children, and even who will settle your estate.

But a truly solid estate plan isn’t built on a single pillar. There are other legal documents that step in when life doesn’t go according to plan. Think of them as the “in-case-of-emergency” tools that protect you before your Will ever has to.

The Other Pillars of Your Estate Plan

Why These Documents Matter

1. They keep decisions in trusted hands—yours.
   A properly executed Power of Attorney and Health Care Proxy let you decide who will act on your behalf if you become incapacitated. Without them, your family may have no choice but to petition the court for the legal authority to manage your affairs—an expensive and time consuming process known as guardianship or conservatorship. 
2. They prevent family conflict.
   In emotionally charged medical emergencies tensions can run high. Without clear legal guidance, even the most well-meaning relatives can disagree about the best course of action. Having a Health Care Proxy and Medical Directive in place minimizes these disputes by making your wishes clear and legally enforceable.
3. They streamline financial continuity.
   Life doesn’t stop when you’re in the hospital. Bills still need to be paid, tax deadlines roll around, and investment decisions may need to be made. A Power of Attorney allows someone you trust to step in and handle these tasks like accessing your checking account, filing your tax return, or managing rental properties so that your financial life doesn’t unravel.
4. They complement—not replace—your Will.
   A common misconception is that a Will is all you need. But a Will only goes into effect after you’ve passed away. Powers of Attorney, Health Care Proxies, and Medical Directives operate while you’re still alive—filling the critical gap where your Will has no authority. Together, they create a complete foundation to support your wishes. It’s not an either/or—it’s a both/and. 

In general, it is essential to work with a board-certified estate planning attorney when creating your estate plan. While there may be other, less expensive options available—such as online templates or non-specialized legal services—these alternatives often lack the comprehensive guidance and legal precision needed to ensure your wishes are fully protected and your assets are distributed according to your intentions.

If you found this helpful, share it with friends, family, or colleagues—everyone deserves a strong foundation for their legacy.

PAST PERFORMANCE IS NOT A GUARANTEE OF CURRENT OR FUTURE RESULTS. Examples of historical information included in this presentation do not, nor are they intended to, constitute a promise of similar future results. Specific client portfolio allocations, risks and returns can and may deviate from these examples depending on accounts and types of investments available through each account. Future market views by WJ Interests, LLC may vary significantly from the historical examples presented herein and no one receiving this summary should assume that WJ Interests, LLC will be able to replicate successful views in the future.