The Recipe for a Satisfying Estate Plan

As we move into 2026, there is no better time to revisit one of the most important financial and personal matters you can address—your estate plan. Misconceptions about who needs an estate plan abound. Many people still believe that estate planning is only necessary for the extremely wealthy, business moguls, or celebrities. But that could not be further from the truth. Estate planning is about much more than wealth; it is about preparation, protection, and peace of mind. It is the process of making decisions about what happens to you, your money, and your property when you pass away or when you can no longer make decisions for yourself.

For that reason, estate planning should be standard practice for every adult age eighteen or older—not just for those with large estates. Think of it as a vital part of your life planning toolkit, much like securing insurance or maintaining your health.

One way to think about estate planning is to compare it to a classic recipe—a reliable, satisfying dish that every adult should have in their cooking repertoire by their twenties. Like that tried-and-true meal, your estate plan should have the right ingredients—or in this case, the right people—to make it truly effective.

Do You Have the Right Ingredients?

Creating an estate plan often involves more people than you might realize. The recipe for an effective estate plan must include the right roles—or ingredients. Without the right people in the right roles, your estate plan may fall short and fail to protect your intentions. Each person involved plays an essential role, and understanding who they are and what they do is the first step toward building a solid foundation for your plan.

The personal representative of a last will and testament is one of the most critical ingredients. This is the individual responsible for settling your affairs, collecting and securing your property and accounts, paying your creditors, filing necessary taxes, and distributing any inheritance to your beneficiaries according to your instructions. Sometimes called an executor, this person must be trustworthy and capable of managing a time-consuming process that continues until the estate administration is complete. If you pass without a will, the court will appoint an administrator according to state law—and that means your property will go to whomever the law, not you, designates.

Another important role is the trustee of a revocable living trust. When you create a trust, you typically serve as the initial trustee during your lifetime, but you will also appoint a successor trustee to step in when you can no longer serve. This individual (or professional company) manages your assets, pays bills, files taxes, and ensures that your instructions are carried out exactly as written in your trust document. If your estate includes complex assets such as investments, real estate, or intellectual property, it is crucial to select a trustee who has the sophistication—or the humility—to seek professional guidance. Remember that trustees are held to a fiduciary duty, the highest legal standard of care, so this role carries both great responsibility and great importance.

Then come the heirs and beneficiaries. While the two terms are often used interchangeably, they are not the same. Heirs are family members who are legally entitled to inherit under state law, while beneficiaries are individuals or organizations you have specifically named in your estate planning documents. Ensuring your heirs and beneficiaries are clearly identified helps avoid confusion and conflict, ensuring that your estate is distributed according to your wishes.

Another key part of your estate plan is designating agents through powers of attorney—both financial and medical. Your financial power of attorney authorizes someone you trust to manage your financial affairs if you are unable to do so, while your medical power of attorney gives someone authority to make healthcare decisions on your behalf when you are incapacitated. These roles do not have to be filled by the same person, but they must be filled by individuals who understand your wishes and can be trusted to act in your best interest, not their own. Open communication is essential here; your agents must know your values and preferences to ensure your voice is honored even when you cannot speak for yourself.

And finally, if you have children or dependents, your estate plan must name a guardian. This person will care for your children or dependents if you are unable to due to incapacity or death. Depending on your state, a guardian may be named in your will or through a separate nomination document. Selecting the right guardian can be one of the most emotionally challenging decisions you make, but failing to make that choice yourself means the court will do it for you. Choosing someone who shares your values, priorities, and sense of responsibility ensures that your loved ones are cared for according to your wishes.

We Can Help You Craft the Perfect Recipe

The team at Hedemark Law has a long history of helping clients create satisfying, comprehensive estate plans that bring gratitude, abundance, and peace of mind. Our approach focuses on helping you avoid the challenges and complications that often arise when transferring property and assets at the time of death.

As 2026 continues to unfold, take this opportunity to revisit or create your estate plan. Like any good recipe, it’s worth reviewing from time to time to make sure the ingredients are still right for your life today.

Call our office to schedule a consultation with one of our experienced attorneys and let us help you craft an estate plan that fits your life perfectly—one that leaves you and your loved ones with comfort, clarity, and confidence for the future.

Disclaimer: The Information contained in this blog does not provide or constitute legal, financial, or other professional advice. The content is for general information, education, and not a substitute for professional advice. Accordingly, we encourage readers to consult with our office or other appropriate legal, financial, and other professionals to determine the best course of action for their individual and specific situation. Readers rely on the information conveyed herein at their own risk.