The Cake Library

Wills & estate planning

Creating a legal will and estate plan is a way to protect your assets, property, and important wishes when you're no longer here.

Guardianship

Who will take care of your dependents if you’re no longer here? Whether you need to create a plan for children, an aging relative, or a beloved pet, a guardianship agreement should be a part of your estate plan. Protecting your loved ones no matter what the future brings is an important part of being a caretaker, and it can bring a lot of peace knowing these legal matters are handled.

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Letter of instruction

Sometimes there are concepts, values, lessons, or instructions you want to include in your will that doesn’t exactly fit the legal format. This would be better suited for a letter of instruction. A letter of instruction is an estate planning document with informal details that aren’t appropriate for a will. Though not legally binding, this can provide much-needed clarity for loved ones.

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Trusts

A trust is a legal arrangement in which a legal title to a property or asset is entrusted to someone under specific circumstances, like after a death. This is a common way to manage your estate, and it has many advantages compared to a traditional will. Unlike a will, your assets placed in a trust will not need to go through probate court, simplifying the process for trustees.

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Wills

A will is a legal document that expresses your wishes for how your property is distributed upon your death, who manages your property, and your final wishes. Sometimes called a last testament, this allows you to choose executors and beneficiaries to manage and receive your estate when your time comes. Contrary to popular belief, it’s relatively easy to make a will no matter your budget, goals, and wishes.

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All Articles about Wills & estate planning

How to Write a Will & Make it Legal: 6 Steps

By Michael T. Flannery, BA, JD

Willing.com Review: Pros, Cons & Cost

By Sam Tetrault, BA in English