Living trust
Established during your lifetime to protect your assets and direct their distribution after your death—can help beneficiaries avoid the probate process
Standby trust
Enables your trustee to take over management of your assets if a predetermined event, such as your disablement, occurs—allows you to resume management upon your recovery
Self-trusteed trust
Permits you to serve as trustee of your own living trust—provides for a successor trustee to take over management of your assets if you’re disabled
Health care provisions
Includes disability and long-term care insurance in your estate plan—helps preserve assets for your beneficiaries if you become disabled
Living will
Speaks for you if you’re unable to do so—typically used to express to your family and medical care providers the desire not to receive extraordinary medical treatment
Also known as a health care proxy—designates someone else to make decisions for you if you’re unable to make them yourself and generally coves a wider scope than a living will
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