When discussing your estate plan, it is important to ask any and all questions you may have. Often, when estate plans fail, it is based at least in part on a lack of understanding on the part of the creator, as well as the heirs. A recent article discusses essential questions that everyone should ask their estate planner. Here are some you should keep in mind: How Far Does My Will Go? Your will does not take effect until after you have died. Therefore, it is important to execute several other estate planning documents that assist you while you are still alive. These documents include a health care directive, as well as a financial and health care power of attorney. How Do I Meet the Needs of My Heirs? When distributing assets to your heirs, there is a distinct difference between being fair and being equal. A person may have one heir who is in greater need than the other heirs. Moreover, if you have a family business, one heir may be best equipped to take it over. By taking time to split assets appropriately, you can avoid the time and infighting that may have otherwise ensued. How Do My Asset Documents Work Together? It is important to realize which documents supersede others. For example, for any document that has a beneficiary designation, the beneficiary designation supersedes any designation you may have made in your will. If you wish to discuss these key questions or want to discuss your particular situation in detail, please contact us at 818.956.9200.