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A will is a legal document that outlines how a person's assets will be distributed after their death. A trust is a legal arrangement where a trustee holds and manages assets for the benefit of the trust's beneficiaries. One key difference is that a will must go through probate, while a trust typically avoids probate.
Your estate plan can include a variety of legal documents, such as a will, trust, power of attorney, and health care directive. It can also include instructions for the distribution of your digital assets, such as your social media accounts and online financial accounts.
A power of attorney is a legal document that gives someone else the authority to act on your behalf if you become incapacitated or unable to make decisions. This can include making financial decisions, managing your business affairs, and making health care decisions.
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