In New Castle, "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.
Estate planning can have numerous positive effects on the planner during life, as well. These benefits are normally somewhat intangible, revolving around the peace of mind that comes with knowing that, after your death, you family will be taken care of and that they'll know what your last wishes are. Nonetheless, most people find this very valuable. To that end, you should come up with a power-of-attorney agreement. When you grant someone power of attorney, you have given them the power to make particular decisions on your behalf. You can grant them as much or as little authority as you want. Most individuals, however, give family members or life partners power of attorney with respect to medical care, so if they become incapacitated, their wishes will still be carried out.
A qualified estate planner in New Castle can make the procedure of planning your estate go much more smoothly, and maximize the chances of your wishes really being carried out with legal force.
Common Features of New Castle Estates
Will: This is normally 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 normally have the effect of transferring legal ownership of the property to the named beneficiary.
Living Will: This is a document which articulates your wishes regarding your medical care, to give instructions to your family and doctors in the event that you become incapacitated. While really consulting it will hopefully never be necessary, one never knows - unexpected illnesses and injuries can happen to anyone, at any time. While making a living will might require a person to acknowledge the existence of some unpleasant possibilities, it can end up saving their loved ones a great deal of grief and uncertainty.
Power of Attorney: Power of attorney is the right to make binding decisions for another person, when that person becomes unable to make or express their own decisions. You can grant power of attorney to anyone you want, but, for obvious reasons, you should only grant it to somebody you trust, and discuss your exact wishes with them, in case they actually have to make a decision for you.
Funeral Arrangements: You should make it very clear to the individuals handling your funeral what type of funeral you want, and what you want done with your body. You should not put these instructions in your will, because wills are commonly not read until days or weeks after the testator dies, by which point it may be too late to give their wishes on this subject effect.
Do I Need a New Castle Estates Lawyer?
A flawed estate plan in New Castle 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.