In Sebastian, 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.

Most vitally, an estate plan should give instructions on the care of your minor children. It should lay out who is to take custody of them, and, if possible, leave them a large sum of money to assist with this care. Of course, you should discuss this matter with the people who you want to take custody of your children, to make sure they can truly take on such responsibility.

What Type of Estate Plan Do I Need in Sebastian, Florida?

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.

If you are in good health, young, and not married, planning an estate is probably not a high priority. And at this point in your life, it doesn't really have to be, with a few possible exceptions, such as individuals who work in very dangerous jobs, or who are very wealthy.

If you have a life partner in Sebastian, 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 Sebastian, 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 Sebastian, Florida Estate Planning Attorney?

Estate planning in Sebastian, Florida is not always complicated, 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.