In Unalaska, Alaska, "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.
The drafting of a will, which simply states what you wish to be done with your property after death, is usually one of the most essential parts of an estate plan. Of course, it's rarely the only one. There are many other things you might want to include, depending on your objectives.
Besides a will, a quality estate plan will include a living will, which gives your doctors and relatives instructions concerning your healthcare in the event that you become incapacitated, funeral arrangements, and instructions on organ donations.
For anyone who has children who are still minors, it is very crucial to make arrangements for their custody and care, just in case the unthinkable happens. You should think of a family member or very close friend who you know would be willing and able to take care of your children, and designate them as the person who would take custody. Of course, it's essential to discuss this matter with that person before you actually do it.
What Type of Estate Plan Do I Need in Unalaska, Alaska?
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.
Unmarried young adults generally don't think much about estate planning. In most cases, this is fine. Unless you are extremely sick or have an unusually large amount of assets, estate planning is not something to really worry about at this point in your life.
If you're not married in Unalaska, Alaska, but have a life partner, estate planning is essential. If you want your partner to be treated as your spouse, your estate plan should make arrangements to give him or her power of attorney in the event that you become incapacitated. Additionally, your will should clearly name your partner as a beneficiary, if you want them to inherit any of your assets.
If you are elderly, and have a large amount of assets in Unalaska, Alaska, estate planning may be more essential at this stage of your life than any other. While estate planning deals with some morbid and unpleasant subjects (requiring us to confront the reality of our own mortality), it is crucial if you wish to live your life secure in the knowledge that your loved ones will be provided for to the extent that your assets allow.
Do I Need a Unalaska, Alaska Estate Planning Attorney?
In Unalaska, Alaska, estate planning is rarely simple, even if it's not the most complicated thing in the world. Given the importance of what's at stake (the financial security of your loved ones), a good estate plan is essential, as is the help of an attorney who specializes in wills, trusts, and estates law.