When people hear of estate planning, it's common for them to think of a will. But estate planning is actually more than that. Merriam-Webster defines "estate" as, "the degree, quality, nature, and extent of one's interest in land or other property." It isn't only about what happens to your family's assets and wealth when you're no longer here, but what should happen while you're living.
People are living longer now, but many are unprepared for the changes that come with that, or just things that can happen in life. From your medical care, paying your bills, to going to the bank for you, these things fall under estate planning too.
So, the next time you hear estate planning, just know that it is more than just a will.
