Jennifer Lea JohnsonRichey

Estate planning refers to the process in which you decide and document what happens to your assets after you die, by making things like wills or trusts.

Probate is the legal process for proving a will valid or invalid, appointing an executor, and distributing estate assets according to the will or state law.

A trust is an estate planning tool in which you allow a third party (called a trustee) to hold your assets on behalf of your beneficiaries. Several types exist.

A will is a document outlining your final wishes for your estate. In order to ensure your will is valid and your wishes honored, you must follow certain rules.