In Gas City, "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 procedure of implementing those decisions when the time comes.

Estate planning normally requires professional legal and financial advice, because of the complexity and importance of the issues involved. A poorly-executed estate plan can commonly 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 contain things that might become relevant during life. Power of attorney is a big one. Power of attorney is an arrangement in which you provide another person the ability to make decisions for you, if you become incapacitated. Furthermore, effective estate planning can help reduce the effect of taxes and court fees on your final disposition to your chosen beneficiaries.

A seasoned Gas City professional experienced in estate planning can make this procedure a great deal easier. They can also help ensure that your estate plan does not end up in court.

Common Features of Gas City Estates

Will: Wills are a very important part of almost all estate plans. In simplest terms, it answers the question "who gets what after I die?" Typically, you can leave your property to anyone you wish. If you die without a will, your property will usually be given to your closest living relative (usually a spouse or child).

Living Will: This is a document which lays out instructions for your medical care, should you become so sick or badly harmed that you are unable to express your wishes. It should state under what situations you want to remain on life support. A well-drafted living will can prevent you from being kept alive in a permanent vegetative state (if that is not what you want), while guaranteeing that you receive medical care as long as you have a chance at recovery.

Power of Attorney: Power of attorney allows you to grant someone else (normally a trusted family member or friend) the power to make certain decisions in your place, with the same legal effect as if you had made them yourself, in the event that you become unable to do so (normally due to mental or physical incapacity). If you decide to give someone power of attorney, you should make your wishes known to them in advance, so they are more likely to make the same decisions that you would make, if you were able to. And, of course, you should exclusively give this authority to someone with whom you would trust your life because that is, in some cases, just what you're doing.

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 particular wishes regarding 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 usually not read for quite some time after a person dies, and the funeral is normally long over by then, so it will be too late to follow your instructions.

Do I Need a Gas City Estates Lawyer?

A flawed estate plan in Gas City can result in those affected by it being confused as to your intent, which can then lead to disputes between them. A seasoned attorney can commonly avoid this confusion by ensuring that there is as little ambiguity as possible in your will and other related documents.