In Oakwood, Georgia, "estate planning" refers to the process by which a person makes arrangements related to their property after their death. It can (and should) also encompass personal issues that might come up immediately before and after a person's death.

Usually, the first thing a person thinks about when they think about estate planning is a will. A will dictates what happens to a person's property after they die. In general, you can leave your property to whomever you want, and attach almost any condition to such gifts. In the vast majority of estate plans, a will is the central component. It is rarely the only one, however.

For example, a knowledgeable estate plan will include a living will, which gives your family members and healthcare professionals instructions about your medical care, to be followed in the event you become incapacitated. You should also include your funeral arrangements, and your preference with respect to organ donation.

Crucially, your plan should make arrangements for the care and custody of your children, if they are minors. However you should first discuss this matter with the person who you intend to take custody of your children in case something happens to you, to make sure they are willing and able to do so.

What Type of Estate Plan Do I Need in Oakwood, Georgia?

The answer to this question depends largely on your goals and priorities, as well as your age, health, and the amount of assets you have.

For instance, if you're unmarried, and in your early 20's, estate planning is probably not the most crucial thing in your life. However, if you're seriously ill, and/or unusually wealthy, estate planning might be a priority for you.

Individuals who are, for varied possible reasons, unwilling or unable to get married, but are in committed, lifelong relationships, are perhaps most in need of a good Oakwood, Georgia estate plan. Because couples who aren't married don't automatically get any of the legal rights (such as hospital visitation, inheritance rights, and power of attorney) that come with marriage, they have to secure these rights through other means, such as wills and power of attorney agreements.

Other groups for whom estate planning is very crucial in Oakwood, Georgia are people who are elderly and/or have a lot of assets. This may be the point in one's life where estate planning is most crucial. While it's true that the process of making an estate plan requires a person to deal directly with the reality of their own mortality, it is extremely important if you value the security that comes with the knowledge that your family will be provided for.

Do I Need a Oakwood, Georgia Estate Planning Attorney?

Because estate planning in Oakwood, Georgia can involve some confusing legal and financial issues, it is necessary to undertake this task with the guidance of an experienced attorney who specializes in estate planning.