Which elements are typically included in estate planning?

• A. Wills, trusts, and power of attorney.
• B. Credit reports and budgets.
• C. Insurance premium schedules.
• D. Investment newsletters.

Answer: (A)

Estate planning is about deciding who will manage your affairs and how your assets will be distributed if you’re unable to handle things yourself. The elements that fit this purpose include documents that control both asset transfer and decision-making: a will to specify who gets what, a trust to manage assets during life and after death, and a durable power of attorney to appoint someone to handle financial matters if you’re unable to. These tools give you control, help avoid confusion, and protect loved ones.

Other options don’t serve that purpose. Credit reports and budgets focus on daily finances and spending, not on how assets are transferred or who makes decisions when you can’t, while insurance premium schedules relate to paying for insurance rather than directing estate transfers, and investment newsletters are informational resources about markets rather than planning documents.