Basic estate planning tools include the: 1) will; 2) durable power of attorney; 3) durable power of attorney for health care; and 4) physician's directive.

A person's will serves many functions. The primary function of a will is to direct the disposition of assets. The will also names an executor, or the person the testator nominates to probate the will, manage the probate estate, and make distributions to beneficiaries. Importantly, if the testator has minor children, the will should nominate a guardian.

Additionally, if the testator has minor children, the will should create a trust to benefit the children rather than directing outright distributions to the children. Special needs trusts created under the testator's will may be appropriate if the testator has a child who may receive government assistance because of a disability. Trusts are often created under a will for adult children without disabilities if those children are likely to experience a divorce or have creditor problems.

The durable power of attorney is an estate planning document that allows the person you nominate to sign your name. Unless the durable power of attorney has "springing" provisions, it is fully operative the moment it is signed. A "Springing" durable power of attorney is often recommended when the client only wants the durable power of attorney to be in effect in the event of his incapacity.

The health care power of attorney is an estate planning document that allows the person you nominate to make health treatment decisions on your behalf in the event of your incapacity.

The physician’s directive puts health care providers on notice that you do not want any extraordinary means of life support. Importantly, the person holding the durable power of attorney for health care may overrule the physician’s directive.