Estate Planning Documents You’ll Regret Not Having

It is hard to believe. However, there are people who still think they don’t need to do any estate planning until they are old, wealthy, or own a beachfront home. Not true, according to a recent article from AOL, “7 simple estate documents people regret not having sooner.”

Another thing most people don’t know—you don’t need a lot of complicated estate planning documents to protect yourself and your loved ones. There are essential estate planning documents needed to protect your finances and follow your medical wishes, name the people sorting things out if you become incapacitated, and make sure your property is distributed according to your wishes.

These documents need to work together to achieve your goals. Once you have this concept in mind, it should be easy to consult with an estate planning attorney and get this taken care of.

Last Will and Testament. A Will explains how property is distributed after death and designates the executor responsible for carrying out the Will's instructions. If you don’t have a Will, your state’s laws will be followed.  The state laws rarely are the same as your wishes, so it’s better to have a Will.

Living Trust. This works alongside the Will. At our law firm in Berks County, we utilize Living Trusts primarily to take ownership of out-of-state real estate to avoid having to probate and hire attorneys in two different states upon death.

Financial Power of Attorney (POA). This document allows a trusted person to manage your money if you are unable to do so yourself. Your Agent will be able to pay bills, access accounts, handle insurance claims and manage property. Important note: a spouse or child is not authorized to act on your behalf without a POA.

Healthcare Power of Attorney. This document lets you name a person to make medical decisions for you if you cannot speak or decide for yourself. Neither a spouse nor a descendant has automatic authority here either. The representative doesn’t have to be a family member. The best candidate is someone you trust to follow your wishes, who is calm under pressure, and who will be able to advocate for you in an emergency.

Living Will (Advance Health Directive). The Living Will needs to complement the Healthcare POA. However, it spells out specific wishes for end-of-life care. Do you want to be on life support, receive nutrition or fluid artificially, or be kept on a ventilator?  Having this document in place is a kindness to your family, as it tells them what you want and spares them from guessing or arguing.

Beneficiary Designations. Retirement accounts, bank accounts, life insurance and some investment accounts have beneficiary designations, which let assets pass directly to heirs. Make sure you’ve completed and updated these forms, as these override your Will. Whoever is on the form gets the funds, even if you’ve been divorced for decades.

Start by making an appointment with an experienced estate planning attorney. It doesn’t have to be complicated. However, it does need to be done.

Reference: AOL (Dec. 3, 2025) “7 simple estate documents people regret not having sooner.”