Frequently Asked Questions

Question 1

What happens if you die without a will?

Accepted Answer

If you pass away without a last will, this is known as dying "intestate." When this happens, state laws determine who will receive your property. The laws governing intestacy vary greatly from state to state.

Question 2

What is probate?

Accepted Answer

Probate is the legal process through which the court oversees how an estate and assets will be distributed. While there are many benefits to having oversight of the process by the probate court, it can be time consuming and expensive depending on your state. 
If you create a last will, your assets will be distributed to your named beneficiaries as part of the probate process. If you create a trust, your assets will be distributed to your beneficiaries without going through the probate process.  
In many states, probate may not be required if the estate is of minimal value.

Question 3

What is a living trust?

Accepted Answer

It's a legal document that states who you want to manage and distribute your property if you're unable to do so, and who receives it when you pass away. Once signed, you transfer ownership of your assets into the trust and you remain in complete control of your property. The trust property can be managed and distributed without going through the probate court.

Question 4

If I already have a last will, why do I need a living will?

Accepted Answer

Though they sound similar, a last will and a living will are two very different things that serve different needs. A last will details what you want to happen to your property after your death. A living will, sometimes called an advance healthcare directive, dictates the medical care you wish to receive under certain circumstances if you become incapacitated or otherwise unable to communicate your wishes.

Question 5

Is a last will or living trust best for my state?

Accepted Answer

The laws regarding what happens to your property after your death can be very complex and vary widely from state to state. We recommend talking to an attorney for advice. All of our Premium estate plans include attorney support, plus unlimited 30 minute calls to discuss other personal legal matters.

Question 6

How do I make a living will?

Accepted Answer

Living wills are written, legal instructions that outline your medical care preferences if you’re unable to communicate or make decisions for yourself. A living will guides the choices of medical professionals and caregivers if you’re in a coma or during end-of-life care. Before you start your living will, consider:  
What end-of-life medical treatments you would and wouldn't want 
Your preferences around comfort care, bodily donations, and posthumous decisions  
Living wills are included in all of our estate plans—we make it easy to create yours online.

Question 7

What is a revocable living trust?

Accepted Answer

A revocable living trust can be changed by the person(s) that created the trust. You can change a revocable living trust by amending it or revoking it. An irrevocable living trust, on the other hand, cannot be amended or revoked.  
Our living trusts are revocable, and are included in all of our Trust Estate Plans, which we make easy to create online.

Question 8

What is a financial power of attorney?

Accepted Answer

A financial power of attorney is a legal document that allows you to appoint someone to manage your financial affairs and is often part of an estate plan. It’s typically used when the person who created it can no longer manage their affairs. This is generally due to a medical issue, aging, a disability, or simply being away for an extended period of time.  
Financial powers of attorney are included in all of our estate plans—we make it easy to create yours online.

Question 9

What’s a living will vs. a last will?

Accepted Answer

Both living wills and last wills are important parts of an estate plan.  
A living will is a legal document that includes written instructions that outline your medical care preferences if you’re unable to communicate or make decisions for yourself. Living wills guide the choices of medical professionals and caregivers if you’re in a coma or during end-of-life care.  
A last will, also known as a last will and testament, is a legal document that gives you the final say on what happens to your possessions after your death. Last wills also give you the power to name a guardian to raise your minor children. You can even leave instructions for your funeral arrangements.