It’s August in Florida, which means heat, humidity, and afternoon storms are keeping many of us inside.
Time for a quick refresher.
Estate planning is about more than who gets your money and property after you die. It also names the people who can help if you are alive but unable to handle finances, make medical decisions, or speak for yourself.
While you are escaping the August heat, take this quick True-or-False quiz. The answers are at the bottom — no peeking!
Estate Planning True-or-False Quiz
I do not have an estate unless I am wealthy. True or False? _____
If I do not have an estate plan, my family can simply decide what happens. True or False? _____
Beneficiary forms on life insurance and retirement accounts may override my will. True or False? _____
A will helps my family manage my finances if I become incapacitated. True or False? _____
A power of attorney can allow someone I trust to help with financial matters if I cannot. True or False? _____
Healthcare documents can name who should make medical decisions if I cannot speak for myself. True or False? _____
A living will is the same thing as a regular will. True or False? _____
HIPAA authorization forms can help my loved ones receive medical information. True or False? _____
Answer Key
1. False. You do not need to be wealthy to have an estate. Your estate includes what you own, such as your home, accounts, car, belongings, retirement accounts, life insurance, and sentimental items.
2. False. Without an estate plan, state law decides who receives your property and who has authority to handle your affairs. That may not match your wishes.
3. True. Beneficiary forms matter. If your will says one thing, but your life insurance or retirement account names someone else, the beneficiary form may control.
4. False. A will only works after death. It does not give anyone authority to help you while you are alive.
5. True. A financial power of attorney lets you name someone you trust to help with bills, bank accounts, property, insurance, and other financial matters.
6. True. Healthcare documents allow you to name the person who can make medical decisions if you cannot speak for yourself.
7. False. A regular will explains what happens to your property after death. A living will gives instructions about end-of-life medical care.
8. True. A HIPAA authorization allows medical providers to share medical information with the people you choose.
What This Quiz Really Shows
Estate planning is not just about death. It is about making life easier for the people you love during difficult moments.
This summer, take a few minutes to review your will or trust, power of attorney, healthcare documents, HIPAA authorization, and beneficiary forms.
A little planning now can save your family stress later.
