Estate planning in Davison, Michigan 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.

Typically, 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.

For example, a brilliant estate plan will include a living will, which gives your family members and healthcare professionals instructions about your medical care, to be followed in the event you become incapacitated. You should also include your funeral arrangements, and your preference with respect to organ donation.

Crucially, your plan should make arrangements for the care and custody of your children, if they are minors. However you should first discuss this matter with the person who you intend to take custody of your children in case something happens to you, to make sure they are willing and able to do so.

What Type of Estate Plan Do I Need in Davison, Michigan?

Obviously, this depends on your needs, which you will have to figure out for yourself. Some typical considerations in making this decision, however, are your health, age, and the amount of assets involved.

For example, if you are in your 20's and unmarried, an estate plan probably does not need to be on your priorities, unless you are very ill, or independently wealthy.

Individuals who are, for different possible reasons, unwilling or unable to get married, but are in committed, lifelong relationships, are perhaps most in need of a good Davison, Michigan estate plan. Because couples who aren't married don't automatically get any of the legal rights (such as hospital visitation, inheritance rights, and power of attorney) that come with marriage, they have to secure these rights through other means, such as wills and power of attorney agreements.

There is another massive group of people who would benefit from having a good Davison, Michigan estate plan: the elderly and those with a lot of money really need to consider making a comprehensive estate plan as soon as possible. While this necessarily contains facing some uncomfortable realities, it is essential and unavoidable.

Do I Need a Davison, Michigan Estate Planning Attorney?

Estate planning in Davison, Michigan is not always difficult, but it certainly can be. In moderately-sized to large estates, with a considerable number of potential beneficiaries, it is crucial to have the assistance of an estate planning professional.