In Posen, "estate planning" refers to all of the decisions affecting how a person's property is going to be disposed of after their death, as well as the process of implementing those decisions when the time comes.

Estate planning typically requires professional legal and financial advice, because of the complexity and importance of the issues involved. A poorly-executed estate plan can frequently end with survivors suing each other, and prevent your intentions from being effectuated.

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 Posen 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 Posen Estates

Will: This is typically a major component in any estate plan. A will is a document in which a person lays out what they want done with their property after their death. These gifts typically have the effect of transferring legal ownership of the property to the named beneficiary.

Living Will: Unlike ordinary wills, a living will contains instructions concerning a person's medical care. Some recent high-profile controversies have illustrated the importance of making a living will, even for younger people. In a living will, you can give your family members and doctors instructions about your desired medical care, in case you become incapacitated (comatose or brain-dead, for example) and can't tell them yourself. Some people say that they would not want to be kept alive by artificial means if they are in a vegetative state, and there's no chance of recovery. If this is you, that's definitely something to include in a living will. Of course, if you would prefer the opposite, being kept alive as long as is medically possible, you can put that in your living will, as well.

Power of Attorney: This is an arrangement in which you give someone else, typically a trusted family member, the right to make financial and medical decisions on your behalf, in case you become unable to make or express your own decisions.

Funeral Arrangements: If you have any strong preferences regarding the disposition of your physical remains, you should make them known to your family early, and should not include funeral instructions in your will. Wills are frequently read weeks after the testator dies, so in most cases, it will be too late by then.

Do I Need a Posen Estates Lawyer?

A knowledgeable estate planning professional in Posen can be invaluable, and you will probably find their services to be well worth the price. They can make the whole process a great deal easier, and they can also help to minimize the chances that your estate plan will be disputed, saving your survivors a great deal of time, money, and energy.