In Lake Mary, Florida, "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.

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.

Perhaps most vitally, 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 Lake Mary, Florida?

Obviously, this depends on your needs, which you will have to figure out for yourself. Some typical considerations in making this decision, however, are your health, age, and the amount of assets involved.

Unmarried young adults usually 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 have a life partner in Lake Mary, Florida, but aren't married to him or her, estate planning is necessary. If you want your partner to have most of the same rights and responsibilities as a spouse, it's typically possible with good estate planning. You should grant your partner power of attorney, so they can make arrangements for you in case you become incapacitated. Moreover, you should name your partner as a beneficiary in your will, because, unlike a spouse, a life partner will not automatically inherit your property if you die without a will.

If you are very old, and have a substantial estate in Lake Mary, Florida, you should definitely come up with an estate plan if you haven't already. Admittedly, this includes confronting some unpleasant and morbid subjects, but it is still very crucial. Estate planning is essential if you care at all what happens to your property, and, more importantly, your loved ones, after you die.

Do I Need a Lake Mary, Florida Estate Planning Attorney?

Because estate planning can be a intricate process, the expertise of a good lawyer in Lake Mary, Florida who specializes in wills, trusts, and estates can make the process a great deal easier.