In Seaford, Delaware, "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.
Typically, the first thing a person thinks about when they think about estate planning is a will. A will dictates what occurs 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.
A clear estate plan will also contain instructions to your doctors about your preferences for end of life care, in case you become unable to express them. This is recognized as a "living will." It should also include instructions about funeral arrangements and organ donation.
Crucially, your plan should make arrangements for the care and custody of your children, if they are minors. Nonetheless you should initially 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 Seaford, Delaware?
The answer to this question varies largely on your goals and priorities, as well as your age, health, and the amount of assets you have.
If you are in good health, young, and not married, planning an estate is likely not a high priority. And at this time in your life, it doesn't really have to be, with a few possible exceptions, such as individuals who work in very hazardous jobs, or who are very wealthy.
Individuals who are, for different possible reasons, unwilling or unable to get married, but are in committed, lifelong relationships, are perhaps most in need of a good Seaford, Delaware 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.
There is another massive group of people who would benefit from having a good Seaford, Delaware 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 contains facing some uncomfortable realities, it is important and unavoidable.
Do I Need a Seaford, Delaware Estate Planning Attorney?
Because estate planning in Seaford, Delaware is not always simple, the assistance of a seasoned attorney will almost certainly be useful, and worth the cost. This is doubly true because of how essential the issues involved can be, and the fact that a relatively minor mistake can sometimes derail an entire estate plan.