Estate planning refers to making plans for what happens when a person passes away, including what happens to their property.
There are legal tools for estate planning, including:
- Making a Will
- Designating beneficiaries (for certain assets)
- Planning your own funeral
Planning ahead can prevent elder abuse by guarding against others taking advantage of the adult while they are still alive. There are legal consequences if someone pressures an adult when it comes to estate planning.
If someone passes away without a Will, the law says what happens. See Dying without a Will for more information.