Essential Estate Planning Documents Explained: 

Will- allows you to document your wishes regarding beneficiaries, guardians, and conservatorships for minor children, etc. 

Living Trust- creates a separate legal entity to own or hold your property in a strategy to avoid going through probate. 

Durable Power of Attorney- this document allows someone to act on your behalf in the event you are physically or mentally incompetent- they can step in and pay bills, as well as take care of any other financial obligation. 

Advanced Medical Directives- this includes a living will, a power of attorney for healthcare, and a do not resuscitate order- all give instructions for medical care.