If you are interested in creating your own estate plan, you may know that the key document for any estate plan is the latest whim or will. Wills of a person is the most widely used document in estate planning and can be handwritten, short or long documents.
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It is important to realize that whilst an Estate Plan includes a Will as its core document, it often uses other legal processes to achieve the aim stated above. A typical Estate Plan may include trusts, property ownership, powers of attorney and other legal documents which will be explained later.
Alternatively, a Family Settlement Asset Trust has similar benefits and protects the whole property, rather than just half, and involves an immediate lifetime transfer into a trust instead of via your Will. To decide if either trust may be appropriate for your situation will require professional advice.