New NAR Guide Helps Homeowners Understand Estate Planning — And Why It Matters More Than Ever

For most Americans, a home is their biggest financial asset and often, their most cherished one. It’s where memories are made, families are raised, and wealth is built over time. But what happens to that home if something unexpected happens? Who inherits it? How will it be managed?

These are tough questions many homeowners put off. But with the release of a new Consumer Guide by the National Association of Realtors® (NAR), the process of estate planning just got a whole lot easier to understand.

The guide, titled “Your Home and Estate Planning,” is designed to help homeowners get clear on how to protect their property and pass it on according to their wishes. It breaks down legal tools like wills, trusts, and title planning without the legalese.

✍️ What Is Estate Planning, Really?

Estate planning isn’t just for the ultra-wealthy. It’s for anyone who owns a home, has assets, or wants to make sure their family is taken care of after they’re gone. And while most people associate estate planning with a will, the process goes much deeper.

“A home is a long-term financial asset,” says NAR. “Estate planning helps you decide what happens to your home and other assets if you can no longer care for them.”

This new guide explains how wills specify who inherits your home, how trusts can avoid probate and offer more privacy, and how making sure the title to your home is properly structured can avoid complications later.

It also helps answer important homeowner questions like:

• What happens to my home if I don’t have a plan?
• How is a trust different from a will?
• When should I start estate planning?
• Can estate planning help protect my family’s inheritance?

⏰ Why This Matters Right Now

The timing of this guide is no coincidence. As of August 17, 2024, the real estate industry began implementing major practice changes following the NAR settlement. These changes impact how buyers and sellers work with agents and how Realtors® communicate important financial matters with clients.

Estate planning fits perfectly into this new era of transparency and financial preparedness. NAR wants to empower homeowners to think long-term, not just about the sale or purchase of a home, but about how that home fits into their family’s future.

And let’s face it: life is unpredictable. Taking a little time now to set up an estate plan can save your family stress, court fees, and confusion later.

🧾 The Guide Is Part of a Larger Resource Library

The estate planning guide is just one in a series of helpful Consumer Guides created by NAR. These printable handouts are available in English and Spanish, and cover a wide range of homeownership and real estate topics.

Just a few of the other titles include:

• “Buying Your First Home”
• “Offers of Compensation”
• “Flood Insurance”
• “Navigating Multiple Offers”
• “Understanding and Preventing Title Fraud”
• “Ten Questions to Ask a Buyer’s Agent”

Each guide is written in simple, consumer-friendly language. Whether you’re new to the homebuying process or decades into homeownership, there’s something useful for everyone.

Helpful for Realtors, Too

If you’re a real estate professional, this guide is a valuable conversation starter. Hand it out during listing appointments, homebuyer workshops, or financial planning seminars. It helps position Realtors® not just as transaction facilitators, but as trusted advisors who care about their clients’ long-term well-being.

Realtors can also guide clients toward legal professionals who specialize in estate planning and help them understand how real property fits into a broader financial plan.

Final Thoughts: It’s Never Too Early to Make a Plan

Estate planning may not be the most exciting part of owning a home but it might be one of the most important. Whether you’re 35 or 75, putting a plan in place for your home and other assets can offer peace of mind, clarity for your family, and protection for everything you’ve worked so hard to build.

The new NAR estate planning guide makes the process accessible and less intimidating, encouraging homeowners to take simple, meaningful steps toward long-term security.

Your home tells the story of your life. Make sure that story continues just the way you want it to.