[Last updated September 3, 2025]
Planning ahead means making sure the right people can step in when needed and that your wishes are clearly understood. Whether it’s decisions about medical care, finances, or property, having the right legal documents in place can make all the difference. This guide walks through the essential estate planning documents older adults may want to have on hand, especially as their needs change with age, illness, or life transitions. Each one plays a role in helping families stay informed, prepared, and protected.
What to include in your estate plan
Every individual’s estate plan should be customized to their own preferences and wishes, as well as to their health and financial situation. Below is a list of legal documents for health-, financial-, and asset-related decisions. These estate planning documents can be helpful to many people. We will describe them in more detail throughout the article.
- Advance health care directive (including a living will).
- POLST.
- Durable medical power of attorney.
- HIPAA authorization form.
- Durable financial power of attorney.
- Payable-on-death account designation.
- Last will and testament.
- Revocable living trust.
Estate planning documents for health care decisions
A solid estate plan includes legal documents that name a health care agent and express preferences for medical care. These documents ensure a person receives care that aligns with their values and preferences, even if they become unable to speak for themselves.
Advance health care directive
An advance health care directive allows someone to share their preferences for medical care and name a person to make decisions on their behalf if they become incapacitated. It’s helpful to ask: “If I can’t speak for myself, who should make decisions for me? What treatments would I want or not want?”
There are two main parts to an advance directive:
- A living will describes preferences for medical and end-of-life care.
- A medical or durable power of attorney names a trusted person to make medical decisions on the individual’s behalf.
These legal documents may go by different names depending on the state. Together, they help family members and health care providers understand the person’s wishes.
POLST (or similar medical orders)
A POLST (Physician Orders for Life-Sustaining Treatment) form is a medical order used by people with serious illnesses. It outlines what emergency treatments, such as CPR or intubation, should or should not be used. Unlike a living will, which informs about the person’s health care preferences, a POLST gives orders to health care providers.
Alternative names in different states include:
- MOLST (Medical Orders for Life-Sustaining Treatment).
- MOST (Medical Orders for Scope of Treatment).
- POST (Physician Orders for Scope of Treatment).
Visit polst.org to check what’s used in your state.
This document is typically completed with a doctor and is meant to be easily found in an emergency.
What’s the difference between a living will and a POLST?
- A living will helps family, doctors, and hospitals understand your long-term wishes.
- A POLST gives direct orders for what to do during a medical emergency.
Durable power of attorney for health care
Also called a medical power of attorney, this document appoints a person to make health decisions if someone becomes unable to do so on their own. This agent works directly with the medical team, consents to treatments, and advocates for the person’s care preferences. It is broader than a living will and remains in effect during a period of incapacity.
HIPAA authorization
HIPAA (Health Insurance Portability and Accountability Act) laws protect medical privacy. A HIPAA authorization form allows designated people to access medical records.
Without this form, family members might struggle to access important information. Including it in an estate plan ensures that trusted individuals can quickly get the details they need to help with medical care.
Estate planning documents that help manage finances
Health issues or aging can make it harder to keep up with bills, taxes, or banking. These legal documents help ensure someone trustworthy can step in to manage finances if needed.
Durable financial power of attorney
A durable financial power of attorney, sometimes called a durable POA for finances, names someone to manage finances if the person can’t do so themselves. That includes paying bills, handling investments, and managing income. This authority may take effect immediately upon signing and notarization, but other types, called “springing” powers of attorney, only become active when the individual is determined to be incapacitated.
To be legally valid, the person signing the document must be of sound mind and understand what powers they are granting.
Payable-on-death (POD) designations
A payable-on-death designation allows someone to name a beneficiary for a bank or investment account. Upon death, the funds go directly to the named person, avoiding the probate process, in which a court oversees the distribution of a deceased person’s assets. It’s often used to ensure quick access to funds for family members after death.
Estate planning documents that help manage assets
Wills, trusts, and other legal documents help ensure that assets like property and savings go where a person wants them to after they pass.
Last will and testament
A will names an executor, describes who should receive which assets, and may also include funeral preferences or guardianship plans for minor children. Without a will, state laws decide how property is distributed.
Your will is the foundation of your estate plan. It spells out:
- Who should get your home, money, and personal property, including jewelry, art, vehicles, etc.
- Who will manage your estate (aka the executor).
- Who should care for any dependents.
- Any gifts to charities or causes you care about.
Some people also include a funeral trust in their last will and testament, which sets aside funds for burial and final expenses.
Revocable living trust
A revocable living trust allows a person to transfer property to a trust that is managed for their benefit during life and distributed to beneficiaries after death. It can help avoid probate and protect privacy.
In some cases, placing a home or other assets in a trust can help with Medicaid planning, depending on state rules. The person creating the trust can act as the trustee or name someone else.
Start creating a tailored estate plan
Estate planning ensures a person’s wishes are respected in life and after death. These legal documents work together to protect health, finances, and legacy. By creating a personalized plan, individuals help loved ones avoid uncertainty during difficult times. It’s never too early or too late to get your affairs in order.
This information is for educational purposes and is not legal, financial, tax, or investment advice. It should not be substituted for information from professionals authorized to practice in your area. You should always consult a suitably qualified professional regarding your specific situation.
