5 Legal Documents Everyone Should Have

Top 5 Must-Have Legal Documents

Trust, in Addition to a Will

Know what are the must-have legal documents that will best protect your family.

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Most people think estate planning or "having your affairs in order" means having a will, but that's a misconception, Neely said.

The will only tells the court what to do with your assets, but it doesn't keep your family out of court. In fact, the will can put them in court for completely public and expensive proceedings.

A trust, instead, is often a better option.

The trust is what keeps the family out of court and will make things as easy as possible for your loved ones, Neely said. It spells out exactly what you want to happen to your assets and who you want to take care of things for you.

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Kids Protection Plan

Less popular than the others, a Kids Protection Plan is a set of documents that ensures that your kids are taken care of, not just in the long term, but in the short term, Neely said.

In the documents you can name guardianship for the long term for the people you want to raise your kids, make their health care and education decisions. But for the short term, the Kids Protection Plan also allows you to dictate what should be done with your kids even in the hours after something has happened to you by naming short-term guardians.

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