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5: The Basic Planning Tools

Although a will is the essential estate planning tool, it is not, as most people believe, carved in stone. A will may reflect your written intentions for the disposition of your estate but unfortunately, it may not be the final word. There are several instances where the instructions of a will can be overridden by:

  • Property held in trust
  • Named beneficiaries of retirement plans
  • Partnerships or other business agreements
  • State laws

It’s wise to familiarize yourself with all the basic tools of estate planning so you and your planning team can make informed decisions regarding the distribution of your assets.

  1. Your will
  2. Substitutes for wills
  3. Revocable trust basics
  4. Other estate planning tools

Next: Who Can Help You


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Meet our Wheeler Society Members

Langdon Cook P'99, P'05

"I love my country as much as the next man, but I don't see the value in leaving a large portion of my estate to Uncle Sam when I die."


Wheeler Society Booklet