In Tallassee, Alabama, "estate planning" refers to the process by which a person makes arrangements related to their property after their death. It can (and should) also include 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 typically one of the most necessary 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.
A will is rarely the only aspect of a comprehensive estate plan. Most persons have quite strong preferences about their end-of-life care, particularly when, and under what circumstances, they would want to be taken off life support, if that every happens. These wishes should be made in writing, and discussed with family. Furthermore, preferences on organ donation and funeral arrangements should also be made clear.
Perhaps most notably, your estate plan should make arrangements for the care and custody of your minor children, if you have any. Of course, you should discuss this matter with the person you intend to take custody of the children beforehand, to ensure that they are able and willing to provide proper care.
What Type of Estate Plan Do I Need in Tallassee, Alabama?
The answer to this question varies on your individual needs, your priorities, your health, and the size and nature of your estate.
For example, if you're unmarried, and in your early 20's, estate planning is probably not the most necessary thing in your life. However, if you're seriously ill, and/or unusually wealthy, estate planning might be a priority for you.
If you are unmarried, but have a life partner in Tallassee, Alabama, estate planning is crucial, if you wish for your life partner to be treated as if he or she were your spouse (to the extent possible). In such a case, the estate plan should make arrangements to give your life partner power of attorney in case you become incapacitated. Your will should also precisely include your partner (if you wish for them to inherit any of your assets).
There is another considerable group of people who would benefit from having a good Tallassee, Alabama estate plan: the elderly and those with a lot of money really need to consider making a comprehensive estate plan as soon as possible. While this necessarily includes facing some uncomfortable realities, it is necessary and unavoidable.
Do I Need a Tallassee, Alabama Estate Planning Attorney?
Estate planning in Tallassee, Alabama is not always perplexing, but it certainly can be. In moderately-sized to large estates, with a substantial number of potential beneficiaries, it is crucial to have the assistance of an estate planning professional.