Estate planning in Athol, Massachusetts is simply the act of deciding what you want to happen to your assets after your death. It typically entails making plans about funeral arrangements, as well as plans for end of life care.
Usually, the first thing a person thinks about when they think about estate planning is a will. A will dictates what happens to a person's property after they die. In general, you can leave your property to whomever you want, and attach almost any condition to such gifts. In the vast majority of estate plans, a will is the central component. It is rarely the only one, however.
In addition to a well-drafted will, a comprehensive estate plan should include things like a living will (healthcare directives made in advance, in case you become incapacitated and unable to make or express such decisions), funeral instructions, and instructions relating to organ donations.
If you have young children, it is absolutely crucial that you make arrangements for their care, as well as their custody. Obviously, if you want someone specific to take custody of them in the event something happens, you need to discuss the matter with them, to ensure that they are actually able and willing to care for them.
What Type of Estate Plan Do I Need in Athol, Massachusetts?
This typically depends on your individual goals and priorities, your age, health, and the nature and quantity of your assets.
For instance, if you're unmarried, and in your early 20's, estate planning is probably not the most critical thing in your life. However, if you're seriously ill, and/or unusually wealthy, estate planning might be a priority for you.
If you're not married in Athol, Massachusetts, but have a life partner, estate planning is imperative. 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 considerable amount of money in Athol, Massachusetts 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 includes, but it's essential.
Do I Need a Athol, Massachusetts Estate Planning Attorney?
Because estate planning in Athol, Massachusetts is not always simple, the assistance of a knowledgeable attorney will almost certainly be useful, and worth the cost. This is doubly true because of how crucial the issues involved can be, and the fact that a relatively minor mistake can sometimes derail an entire estate plan.