In Southwest Ranches, estate planning refers to the process of deciding what should be done with one's assets after their death.

The problems that estate planning raises are sometimes very convoluted. Without competent legal and financial advice, many problems can pop up, which can easily throw your entire plan into disarray, and cost your survivors a great deal of time, energy, and money.

While planning your estate, there are a few prevalent issues that most people should consider. One big one is the decision relating to power of attorney, which is an arrangement where you give one person the power to make legally-binding decisions on your behalf. You can set up an agreement telling your representative precisely what power they have, what you want them to do, and when the power will vest (typically, if and when you become unable to make your own decisions).

A knowledgeable Southwest Ranches professional experienced in estate planning can make this process a great deal easier. They can also help ensure that your estate plan does not end up in court.

Common Features of Southwest Ranches Estates

Will: A will is often the central component of an estate plan. It is a legal document which says what is to be done with a person's assets after they die. It typically involves giving money and property to the testator's close family members, friends, and sometimes charitable organizations.

Living Will: A living will contains instructions about your medical care, usually for the purpose of informing your family and doctors of your preferences if you suddenly become incapacitated. A living will is quite important if you have any strong preferences in this area. It should be written with the advice of a doctor, so you know the exact medical consequences of your decisions, and a lawyer, so it is virtually guaranteed to be legally binding.

Power of Attorney: What if you become incapacitated, and can't make your own decisions? It would be nice if somebody knew what you would want in a given situation, and, on top of that, had the legal authority to make that decision for you. Power of attorney lets you do precisely that, granting a person of your choice the ability to make certain decisions for you, in case you, for whatever reason, can't (you can, of course, control the scope of power that you grant).

Funeral Arrangements: What do you want done with your body after you die? Do you want to be cremated? How about buried? Or maybe you want to be cremated, and have your remains shot into space? Whatever your preference, you won't exactly be able to tell anyone when the time comes. Consequently, you should make your desires on this matter known well in advance. You also shouldn't make your will the only place where these instructions are contained, since it might not be read for weeks after your death, when it will probably be too late.

Do I Need a Southwest Ranches Estates Lawyer?

A poorly drafted or executed Southwest Ranches estate plan can have major negative consequences. For example, it might be confusing to the people who are most directly affected by it. This confusion can frequently lead to costly litigation. For that reason, the assistance of an efficient estate planning attorney can be invaluable.