Estate Planning Terms

Learn essential estate planning terms and definitions. Understand key legal concepts to make informed decisions about trusts, wills, and protecting your fami...

What are the most important estate planning terms to understand?

Key estate planning terms include trustee (who manages a trust), beneficiary (who receives assets), grantor (who creates a trust), and executor (who administers a will). Understanding terms like revocable trust, irrevocable trust, probate, and power of attorney helps you navigate estate planning documents and make informed decisions about your family's future.

Glossary of Basic Estate Planning Terms
Estate Planning 101Estate Planning Terms

Glossary of Basic Estate Planning Terms

Estate planning involves understanding key terms like assets, beneficiaries, wills, trusts, and probate. This glossary simplifies complex concepts, helping you navigate estate planning with confidence.
SimplyTrustSimplyTrust EditorialDecember 26, 2025
Intestate and Probate: What’s the Difference?
Estate Planning Terms

Intestate and Probate: What’s the Difference?

Intestate and probate are important concepts to understand when navigating estate planning, though they serve very different purposes in the legal process.
SimplyTrustSimplyTrust EditorialApril 28, 2025
Heir vs. Beneficiary: What’s the Difference?
Estate Planning Terms

Heir vs. Beneficiary: What’s the Difference?

Heir vs. beneficiary: what’s the difference. While subtle, there are key differences between the two estate planning concepts.
SimplyTrustSimplyTrust EditorialApril 24, 2025
What Is an Attorney-in-Fact and Why Are They Important?
Estate Planning 101Estate Planning Terms

What Is an Attorney-in-Fact and Why Are They Important?

Read about what an attorney-in-fact is (hint: it’s not necessarily an attorney) and why it’s so important in estate planning?
SimplyTrustSimplyTrust EditorialApril 17, 2025
What Is a Codicil to a Will?
Estate Planning Terms

What Is a Codicil to a Will?

Read about what a codicil is and how to use it to make amendments, additions, or deletions to an existing will.
SimplyTrustSimplyTrust EditorialApril 16, 2025
What Is a Special Needs Trust?
Estate Planning TermsTrusts

What Is a Special Needs Trust?

A special needs trust provides financial security for individuals with disabilities without affecting government benefits. Learn how they work, their types, and benefits.
SimplyTrustSimplyTrust EditorialMarch 14, 2025
Advance Health Care Directives: A Quick Overview
Estate Planning TermsWills

Advance Health Care Directives: A Quick Overview

Advance health care directives are legal documents that outline your medical wishes if you’re unable to communicate them. They offer peace of mind.
SimplyTrustSimplyTrust EditorialMarch 11, 2025
Differences Between Individual Trusts and Joint Trusts
Estate Planning 101Estate Planning TermsTrusts

Differences Between Individual Trusts and Joint Trusts

Individual trusts provide full control and privacy for a single person, while joint trusts simplify management for couples. Each has unique benefits and drawbacks based on personal circumstances and estate planning goals.
SimplyTrustSimplyTrust EditorialFebruary 17, 2025
Are Pet Trusts a Thing?
Estate Planning TermsTrusts

Are Pet Trusts a Thing?

Pet trusts ensure your pet’s care after you’re gone. Learn how to create a plan that provides peace of mind.
SimplyTrustSimplyTrust EditorialJanuary 27, 2025
Trust vs. Will: What’s the Difference?
Estate Planning TermsTrusts vs. WillsWills

Trust vs. Will: What’s the Difference?

Planning your estate involves choosing between wills and trusts. Understand their differences to make informed decisions for asset management and family care.
SimplyTrustSimplyTrust EditorialJanuary 13, 2025
What Is Estate Planning?
Estate Planning 101Estate Planning Terms

What Is Estate Planning?

Estate planning isn’t just for the wealthy. It’s vital for everyone to ensure assets are managed and wishes respected.
SimplyTrustSimplyTrust EditorialJanuary 3, 2025