Do I need more than a will?

Do I need more than a will? The short answer honestly is yes. A will says who gets what, but that's not the only question when it comes to estate planning. Estate planning covers what if you're incapacitated or disabled, who's in charge of your assets and your medical decisions or your minor children if you're a parent of minors, who's caring for them during that time, and then ultimately who would be raising them if something were to happen. So, you definitely need more than a will.

Every adult in Colorado and any state needs a power of attorney, who's in charge of your assets, who's in charge of your medical decision making. You need a living will, which is what happens if you're on life support making an end of life decision ahead of time, as well as a HIPAA release who can your doctors talk to, so that your family members and loved ones can know how you're doing. And you need all of that in addition to a will. Whether you need a will and a trust is a separate question, but definitely a will alone doesn't cover all of your estate planning needs.

Also, if you're a parent of minors, you'd want the guardianship completely covered. Short term guardianship for an emergency situation. Long term guardianship, who would raise your children. Emergency wallet cards to make sure the information about your estate plan is immediately available in an emergency. A letter to your children, a letter to their guardian, just so that they know things you would want them to know if you need to write something down, if your children are very young or if a guardian would want some advice from you about what to do. That is a way to supplement just a will to make sure that everyone knows ultimately your wishes, your values, and your stories to pass down.