13 November, 2026 
Estate planning is deciding who can manage your affairs if you become incapacitated and what happens to your property when you die, then putting those decisions into legal documents. Estate planning for physicians often starts with four documents: a revocable living trust, a pour-over will, a durable financial power of attorney and an advance health care directive. The same framework can help locum tenens and 1099 nurse practitioners, PAs, CRNAs and dentists, although the right documents depend on your circumstances and state law.
Without a plan, state law supplies default rules for inheritance, a court may need to appoint someone to act on your behalf, and probate can add time, cost and public filings.
This guide builds on Barton Associates’ estate planning webinar with Ali Oromchian, J.D., LL.M., presented in partnership with Earned, a tax and wealth management firm built for healthcare professionals.
Start with what you own. That includes checking and savings accounts, retirement accounts, investments, real estate and personal property such as vehicles, jewelry or art. Add life insurance policies and any interests you hold in a business. Record how each item is owned and who is listed to receive it. A retirement account with a named beneficiary, for example, generally passes under the account’s beneficiary designation. It can still matter to the overall plan even when it passes outside probate. See the American Bar Association’s introduction to wills.
A complete estate plan answers five questions:
Family dynamics, health, the ages and needs of your beneficiaries, and the kinds of assets you own all affect the answers. A household with young children may spend more time on guardianship and access to funds. A clinician who owns real estate in two states may spend more time on deeds and how each property would transfer.
“Supporting clinicians, to me, really means helping everyone think beyond just that next assignment or that next career move,” said Barton Associates CEO April Hansen during the webinar.
Clinicians see families make difficult decisions under pressure. Choosing who would make those decisions for your own household can feel different, especially when you spend weeks at a time away on assignment. Start with a practical question: If you were hospitalized away from home, would the person you want making decisions know where to find your directive and how to reach the people who need it?
Estate planning for doctors and estate planning for dentists raise many of the same questions that NPs, PAs and CRNAs face. Your assignment schedule, household income and benefit arrangements determine which ones need attention first.
| Locum or 1099 reality | What to plan for |
| You work in several states. | Ask counsel in your home state about using your documents while traveling and whether owning property elsewhere requires additional review. |
| Your pay varies by assignment. | Look at a stretch with no clinical income. Who can access funds for the mortgage, child care and other bills, and how long would those funds last? |
| You work independently or mix W-2 and 1099 income. | Verify what group life and disability coverage you actually have and which income it covers. Independent assignments typically come without employer-sponsored benefits. |
| You contract through an entity. | Identify who could manage outstanding invoices, tax payments or a wind-down if you became unable to do so. |
Working across state lines or adding an income stream gives you a reason to revisit the plan. The decisions themselves are personal. You get to choose who speaks for you and how the resources you’ve built are used.
What do you need for basic estate planning? A trust-based plan commonly includes the four core documents below. Your attorney may recommend a simpler will-based plan or additional documents based on your circumstances.
| Document | What it does | When to discuss it |
| Revocable living trust | Gives a trustee authority to manage assets held in the trust and distribute them under your instructions. | When you want continuity of asset management or to keep properly funded assets out of probate. |
| Pour-over will | Directs probate assets left outside the trust into it after death and can nominate guardians. | When you use a living trust and need a backup for property left outside it. |
| Durable financial power of attorney | Authorizes an agent to handle financial matters within the scope of the document. | When you want someone to be able to act if you become incapacitated. |
| Advance health care directive | Records your treatment preferences, names a medical decision-maker, or does both. | When you want your preferences and choice of decision-maker documented. |
A revocable living trust lets you set the terms for how assets are managed during your lifetime and distributed after death. You can typically serve as trustee while able and name a successor to step in. The practical work is funding the trust by transferring appropriate assets into it or arranging for them to pass to it. Ask your attorney which assets belong in the trust and how to coordinate retirement accounts and other assets with beneficiary designations. See the ABA’s guide to revocable trusts.
The attorney who drafts your trust can prepare a pour-over will to direct eligible property left outside the trust into it after your death. Think of it as a backup instruction. Property passing under the will may still have to go through probate before it reaches the trust. This is also where you can nominate a guardian for minor children, subject to court approval. See the ABA’s explanation of how wills work.
A financial power of attorney can let someone pay bills, work with financial institutions or handle contracts on your behalf. A durable power remains effective if you become incapacitated. Ask when the authority begins and what it covers. Clear instructions may reduce the need for a court-appointed person to manage your finances. See the ABA’s power of attorney guidance.
The difference between a living will and a medical power of attorney comes down to instructions and authority. A living will records treatment preferences. A durable power of attorney for health care names someone, often called a health care proxy, who can make decisions when you cannot. Some states combine these functions in one form. Ask whether a separate HIPAA authorization would help the people you designate get the information they need. See the National Institute on Aging’s guide to living wills.
A children’s trust can set terms for managing an inheritance over time. A special needs trust may be appropriate when a beneficiary relies on means-tested public benefits. A straightforward revocable trust may suit a household with simpler needs. Bypass (A/B) and disclaimer trust arrangements address particular family or tax goals for couples. If you have an older plan with a bypass provision, ask your attorney what it would do today given your state’s rules, your family’s needs and current federal exclusions.
An irrevocable trust generally limits your ability to change its terms and may serve specific planning goals. A corporate assignment can document a transfer of an entity interest to a trust when applicable law and agreements allow it. A POLST is a set of medical orders about life-sustaining treatment for people with serious illness or frailty when clinically appropriate. See the National Institute on Aging’s advance care planning guidance.
A will is a legal document that directs how probate property is distributed at death. An estate plan is the broader set of documents and decisions that covers incapacity, distribution, account ownership, beneficiaries and who has authority to act.
| Question | Will alone | Full estate plan |
| Who can act during incapacity? | The will takes effect at death. | Financial and health care documents can give your chosen agents authority during life. |
| What goes through probate? | Property passing under the will generally goes through probate, subject to state procedures. | Properly funded trust assets can generally pass outside probate. Beneficiary designations and some forms of joint ownership can also transfer assets outside probate. |
| What becomes public? | A will filed in probate generally becomes part of the court record. | Trust administration generally offers more privacy, although disclosure may be required in some circumstances. |
| Who cares for minor children? | You can nominate a guardian. | You can coordinate that nomination with how funds are managed for the children. |
If your finances and family situation are straightforward, your attorney may recommend a regular will with separate financial and health care documents. Ask which assets would go through probate under that plan and what your state’s process would involve.
List your accounts, insurance policies, property, debts and key contacts. Gather deeds, existing legal documents, your household budget and records that establish tax basis, such as purchase and improvement records. For each account, note the owner, any joint owner, and any payable-on-death, transfer-on-death or other beneficiary designation. Record where to find the safe-deposit box key and verify who can access the box. Keep passwords and recovery codes in a secure place separate from the documents. See Barton’s 1099 tax guide for related recordkeeping and entity considerations.
Name a first choice and an alternate for each role, and ask each person if they’re willing to serve. Think through the work involved. A sibling who knows your children’s routines may be a natural guardian. A different person might be better suited to tracking expenses and administering a trust.
| Role | What they handle |
| Successor trustee | Manages and distributes trust assets under the terms of the trust. |
| Executor or personal representative | Administers the probate estate under state law. |
| Guardian nominee | Would care for minor children if appointed by the court. |
| Financial agent | Acts within the authority granted by your financial power of attorney. |
| Health care agent | Makes medical decisions when authorized under your directive and applicable law. |
Bring your inventory and proposed appointments to an estate planning attorney. Review the drafts together, ask which state-specific forms or supplemental documents you need, and schedule the signing with any required witnesses or notarization. If you choose a trust, get a written list of which assets need title or beneficiary changes and who will handle each one. Verify that the institutions processed those changes.
Nominate a guardian and a backup. Share the practical details they would need in an emergency, including medications, clinicians, school contacts and routines. If you travel for locum assignments, ask about any temporary caregiver or medical consent forms that may be appropriate in your state. Discuss how a trust could pay for care and education over time. If you have a 529 plan, check whether it lets you name a successor account owner.
Run the numbers using the income your family actually depends on. Ask how a disability policy defines disability, when benefits would begin and whether the policy accounts for your 1099 earnings or specialty. For life insurance, estimate what your household would need for debts, child care and ongoing living expenses, then compare that with existing coverage. If you rely on a W-2 benefit alongside locum income, verify what happens if you leave that job. Explore disability and life insurance through Earned.
If you have a prenuptial or postnuptial agreement, bring it to your attorney so they can review how it interacts with your will, trust and beneficiary forms. In a blended family, spell out how you want to provide for a surviving spouse and for children from earlier relationships. Ask whether a trust could manage an inheritance over time when an outright gift would give the recipient immediate control.
For estate planning as a sole proprietor, start with who can access business records, collect outstanding payments and handle remaining obligations. If you already use an entity, bring the formation documents and ownership agreements. Ask your CPA and attorney whether a professional corporation or PLLC makes sense for your locum work, whether a separate LLC is appropriate for rental property and whether you can transfer an interest to your trust. Professional ownership rules vary. See Barton’s guide to mid-year tax moves for 1099 clinicians.
Tell your fiduciaries what you’re asking them to do, where the signed documents are and whom to call first. Share the relevant health care paperwork with your agent and ask how to make it available to your care team. Make sure your CPA, attorney and financial advisor are working from the same information about ownership and beneficiaries. For further education on clinician finances, see the Earned Institute.
Put a review on the calendar at least every five years. Revisit sooner after:
During the review, pull the actual deeds and beneficiary confirmations. Compare them with the instructions in the plan.
The federal estate and gift tax basic exclusion is a per-person amount that applies across lifetime taxable gifts and transfers at death. The annual gift tax exclusion applies separately to qualifying gifts to each recipient during a calendar year.
| Federal amount | 2026 | 2027 |
| Estate and gift tax basic exclusion per person | $15,000,000 | $15,480,000 |
| Annual gift tax exclusion per recipient | $19,000 | $20,000 |
See the IRS estate and gift tax guidance and IRS Revenue Procedure 2026-35, sections 3.44 and 3.46.
Federal law indexes the basic exclusion for inflation after 2026. A married couple could have up to $30 million in combined federal exclusion under 2026 amounts if both exclusions are fully available and the first spouse’s estate makes the required portability election to transfer any unused amount. Ask your CPA or attorney about that filing and whether your state imposes a separate estate or inheritance tax. Some state thresholds are substantially lower. See the IRS estate tax FAQs and the Tax Foundation’s state estate and inheritance tax overview.
For many clinicians, the more immediate questions are who can pay the bills during an incapacity and how to get property to the people it’s meant for.
Your estate planning cost depends on how much legal work your situation requires. A will and two powers of attorney for one person will typically involve a different scope than coordinated plans for spouses with property in multiple states and a trust for a child. Many firms quote flat estate planning prices. Ask for a written scope so you can compare equivalent work.
Ask whether the attorney’s fee includes the consultation, revisions, signing, deeds, trust funding support and a follow-up check. Some firms include funding instructions in the quote and charge separately for executing transfers or recording deeds. Also ask how they price future amendments. A plan that limits the assets passing through probate can reduce court and administration costs for your family. The amount depends on your assets and your state’s procedures.
| Cost driver | What to clarify before you hire |
| Individual or couple | Does the fee cover separate directives and powers of attorney for both spouses? |
| Children or beneficiaries with disabilities | Does it cover custom trust provisions and any review of benefit eligibility? |
| Contractor entity | Does it include review of ownership agreements and preparation of an assignment if appropriate? |
| Property in multiple states | Will you need separate counsel, documents or recording fees? |
| Flat fee or hourly billing | What is included, what costs extra and when will the firm tell you the scope has changed? |
A low-cost form may leave the work of coordinating titles, beneficiary designations and signing requirements to you. Compare what it covers against the work your plan requires.
An estate planning attorney turns your decisions into documents that work together under applicable law. The attorney can explain which assets your will controls, which already transfer by title or beneficiary designation and which could be held in a trust. Ask for a plain-language explanation of what happens to each major asset if you become incapacitated or die. That conversation can reveal a mismatch while you still have time to correct it.
For most clinicians with dependents, real estate or an entity, working with an estate planning lawyer is a sensible starting point. If you already have documents, bring them. An attorney can assess whether they still fit your family and current state law and whether you need an amendment, a new document or an account update.
Through its Wealth Management services, Earned can coordinate with your attorney, CPA and other advisors so the legal documents and financial decisions can be reviewed together.
| Myth | What to know |
| “Estate planning is only for the wealthy.” | Choosing a health care agent or nominating a guardian can matter at any asset level. Probate planning also depends on ownership and state law. |
| “Estate planning is too costly.” | Ask for a quote for the work you need. A straightforward will-based plan may cost less than a trust-based plan, and coordinating assets can reduce what your family spends administering the estate. |
| “I’m young. I don’t need an estate plan.” | Estate planning for young adults can start with a health care directive, financial power of attorney and current beneficiary forms. Buying a home or having a child can add decisions. |
| “I’ll just transfer my assets to my family.” | An outright gift transfers control and can affect tax reporting or the recipient’s tax basis. Review the consequences before transferring valuable property. |
| “My will keeps my estate out of probate.” | Property transferred by will generally goes through probate. Review the assets you expect to transfer by trust, title or beneficiary designation. |
| “I’ll just use LegalZoom or another online form.” | A DIY estate planning tool can produce documents. You still need to check how the documents work with state law, existing designations, property and any entity agreements. |
| “I can handwrite my documents.” | States differ on whether and when a handwritten will is valid. Check your state’s signing and witnessing rules with an attorney before relying on one. |
Set aside time to name the people you’d trust to make financial and medical decisions, then list the assets and accounts they’d need to find. Bring that list to an estate planning attorney. Once the documents are signed, check that your deeds and beneficiary forms reflect the same decisions. If your household, property or locum work changes, pull the plan back out while those details are fresh.
If you want help fitting those decisions into your broader financial picture and coordinating with your attorney and CPA, talk with an Earned advisor. For more on the partnership, see Barton’s estate planning webinar page and Barton’s tax strategies webinar for locum tenens clinicians.
This article is for general educational purposes only and does not constitute legal, tax, investment or insurance advice. Consult qualified professionals about your circumstances and the laws that apply to you.
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