In Batesville, "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 usually requires professional legal and financial advice, because of the complexity and importance of the issues involved. A poorly-executed estate plan can often end with survivors suing each other, and prevent your intentions from being effectuated.

In addition to deciding what to do with your assets after your death, your estate plan should also include things that might become relevant during life. Power of attorney is a big one. Power of attorney is an arrangement in which you give another person the ability to make decisions for you, if you become incapacitated. Also, effective estate planning can help reduce the effect of taxes and court fees on your final disposition to your chosen beneficiaries.

If you want to maximize the odds that your wishes will be followed after your death, you should do everything you can to make them legally binding. While this is not always possible, a Batesville attorney will be able to make sure that, where it is possible, it is done.

Common Features of Batesville Estates

Will: This is a legal document which transfers ownership of the testator's (the person making the will) property to named beneficiaries after the testator's death. The beneficiaries can be just about anyone the testator chooses, but smaller estates, usually only include family members, and maybe very close friends. If you want, you can place conditions on gifts (say, leaving a certain amount of money to your son, but only if he graduates college before he turns 25 - this is just an example). However, a will can't actually compel anyone to do anything, and some conditional gifts won't be enforced, typically because they involve an illegal act, or require a person to marry or refrain from marrying a specific person.

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, usually 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: Whatever your preference on this matter (if you have a preference) you should make it known to your family both verbally and in writing. If you have very specific wishes concerning the final disposition of your mortal remains, you should not put those instructions in your will. Or, if you do, you should also put them somewhere else. Wills are typically not read for quite some time after a person dies, and the funeral is usually long over by then, so it will be too late to follow your instructions.

Do I Need a Batesville Estates Lawyer?

A good lawyer in Batesville can make the process of estate planning as easy as it possibly can be. He or she can help ensure that your wishes are given effect, and minimize the chances of disputes between your survivors.