Estate planning is not a requirement. No one can force you to make your will, create a power of attorney or to own your property in a way to avoid probate. As a result, people too often let common estate planning excuses stand in their way.
Estate or Trust Administration
These agents take over your affairs in specific areas, if you become physically or mentally incapacitated.
Administration of a decedent’s estate may involve investment accounts (with stocks and bonds) held in the decedent’s name or trust.
Executors can use additional information in administering estates, especially if the executor is unrelated to the decedent.
One of the biggest concerns a trust creator might have is that the beneficiary would squander their inheritance or that the beneficiary’s creditor would attach the inheritance to cover the beneficiary’s debt.