Estate planning in Cicero, Indiana is simply the act of deciding what you want to happen to your assets after your death. It normally entails making plans about funeral arrangements, as well as plans for end of life care.

While the drafting of a will (the document that dictates what is to be done with the decedent's property after death) is normally the central component of any estate plan, there are several other elements which you may want to include, depending on your goals, and your financial situation.

A will is rarely the only aspect of a comprehensive estate plan. Most individuals have extremely strong preferences about their end-of-life care, especially when, and under what circumstances, they would want to be taken off life support, if that every happens. These wishes should be made in writing, and discussed with family. Additionally, preferences on organ donation and funeral arrangements should also be made clear.

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 really take on such responsibility.

What Type of Estate Plan Do I Need in Cicero, Indiana?

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 young and unmarried, estate planning probably doesn't need to be on your radar, unless you are very ill, independently wealthy, or perhaps if you work in a very dangerous job, such as the military.

If you're not married in Cicero, Indiana, but have a life partner, estate planning is necessary. If you want your partner to be treated as your spouse, your estate plan should make arrangements to give him or her power of attorney in the event that you become incapacitated. Additionally, your will should clearly name your partner as a beneficiary, if you want them to inherit any of your assets.

Individuals who are elderly and/or have a massive amount of money in Cicero, Indiana are probably more in need of an estate plan than almost anyone else. Most people place a lot of value in the peace of mind that comes when they know that the people they love, or the causes they care about, will be taken care of after their death. Of course, nobody likes to confront the facts that this process always contains, but it's essential.

Do I Need a Cicero, Indiana Estate Planning Attorney?

Because estate planning in Cicero, Indiana can involve some convoluted legal and financial issues, it is essential to undertake this task with the guidance of an experienced attorney who specializes in estate planning.