What Is an Estate Plan, and Why Does Every Adult Need One?

An estate plan is a legally enforceable set of documents that protects you, your assets, and the people you care about if you become incapacitated or pass away. Without a plan, Nebraska state law and the court system—not you—decide who makes medical decisions for you, who manages your finances, who inherits your property, and, in some cases, who cares for your children.

Despite how common estate planning conversations have become, fewer than one-third of adults have a formal plan in place. That gap matters. When someone in Lincoln, Lancaster County, or elsewhere in Nebraska dies or becomes incapacitated without clear instructions, families are often left navigating probate delays, court filings, and unnecessary conflict during already stressful moments.

Estate planning is not just about wealth. It is about control, clarity, and care. A well-designed Nebraska estate plan allows you to choose who can act for you if you cannot, how medical decisions are made, how your property is distributed, and how your family is protected. Whether your estate is modest or substantial, planning ahead keeps your loved ones out of the dark.

What Is an “Estate,” and Do I Really Have One?

An estate is simply everything you own or control. If you are an adult in Nebraska who owns property of any kind, you already have an estate.

In practical terms, this includes your home, vehicles, bank accounts, retirement plans such as IRAs or 401(k)s, life insurance, business interests, personal property, and digital assets like online accounts or cryptocurrency. Even if you only have a checking account and a car, those assets still need to be handled if something happens to you.

One of the most common myths I hear is that someone does not “have enough” to justify estate planning. In reality, families with modest estates are often hit hardest by court costs and delays. Without a plan, even a small bank account can be frozen during a Nebraska probate proceeding, leaving loved ones without access to funds they may need immediately.

What Is an Estate Plan, in Plain English?

An estate plan is a coordinated system of legal documents that answers three basic questions: who can act for you, what authority they have, and who receives your assets.

Instead of relying on default Nebraska statutes, an estate plan allows you to make these decisions intentionally. The documents work together to cover financial authority, medical decision-making, and asset distribution. When documents are missing or inconsistent, families can end up in court trying to reconcile conflicting instructions.

A proper estate plan is not a single form. It is a set of documents designed to work together under Nebraska law.

What Documents Are Included in a Nebraska Estate Plan?

A comprehensive estate plan is not just one document; it is a system. In Nebraska, a solid plan typically includes the following core pieces.

Last Will and Testament

A Will directs how your probate assets are distributed, names a Personal Representative (the person legally responsible for settling your estate), and allows you to nominate guardians for minor children. Nebraska is a Uniform Probate Code state, which is why the term “Personal Representative” is used instead of “Executor.”

Revocable Living Trust (When Appropriate)

For some families, a Trust is appropriate to avoid probate, maintain privacy, or manage assets for beneficiaries who are not ready to receive an inheritance outright. Trusts are especially common for parents of minor children, blended families, or individuals with real estate or businesses.

Durable Power of Attorney (Financial)

A Durable Power of Attorney authorizes someone you trust to handle financial and legal matters if you are incapacitated. This can include paying bills, managing bank accounts, handling real estate, or keeping a business running.

Power of Attorney for Health Care and Living Will

In Nebraska, these are distinct but complementary documents.

A Power of Attorney for Health Care appoints someone to make medical decisions for you if you cannot speak for yourself. A Living Will, also referred to as a Rights of the Terminally Ill directive, documents your wishes regarding life-sustaining treatment and end-of-life care.

Together, these documents ensure your medical care aligns with your values and that the right person has legal authority to advocate for you.

Is Estate Planning Only About Death?

No. One of the most important roles of an estate plan is protecting you while you are alive.

If you were involved in a serious accident or suffered a medical emergency in Lincoln, who would have legal authority to speak with your doctors? Who could access your bank account to pay your mortgage or household bills? Without valid Powers of Attorney in place, your family may be forced to seek a Guardianship or Conservatorship through the Nebraska courts.

Those proceedings are public, expensive, and time-consuming—and in many cases, entirely avoidable with proper planning.

How Does an Estate Plan Reduce Family Conflict?

Uncertainty is one of the biggest drivers of family conflict. When someone passes away without a plan, grief often turns into disagreement over “what they would have wanted.”

A written estate plan replaces assumptions with clear, legally enforceable instructions. It defines who is in charge and how decisions are made. While no document can eliminate every family issue, a well-drafted plan significantly reduces the gray areas where disputes tend to arise.

Frequently Asked Questions About Estate Planning in Nebraska

When should I create my first estate plan?

In Nebraska, you can create an estate plan once you reach legal adulthood at age 19. You should strongly consider planning once you own property, have a child, or want to ensure someone can act for you in a medical or financial emergency.

What happens if I die without a Will in Nebraska?

If you die without a Will, you are considered to have died intestate. Nebraska’s intestacy statutes determine who inherits your property based on a rigid legal formula. This often surprises people, particularly in blended families or situations involving unmarried partners, because the outcome may not reflect their actual wishes.

Do I need an attorney, or can I use an online will?

Online forms are typically one-size-fits-all and may not comply with Nebraska’s execution requirements or account for complex family situations. An experienced estate planning attorney ensures your documents are valid, coordinated, and tailored to your life.

How often should I update my estate plan?

Most plans should be reviewed every three to five years, or sooner after major life events such as marriage, divorce, the birth of a child, a medical diagnosis, or a significant change in finances.