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

The creation of a will (the document laying out what is to be done with your property after your death) is an essential element of an estate plan, but it is usually not the only element. There are many other critical things that most estate plans should include.

A will is rarely the only aspect of a comprehensive estate plan. Most people have very strong preferences about their end-of-life care, particularly 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. Furthermore, preferences on organ donation and funeral arrangements should also be made clear.

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 Waite Park, Minnesota?

The answer to this question varies largely on your goals and priorities, as well as your age, health, and the amount of assets you have.

For example, 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.

Individuals who are, for various possible reasons, unwilling or unable to get married, but are in committed, lifelong relationships, are perhaps most in need of a good Waite Park, Minnesota 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 large group of people who would benefit from having a good Waite Park, Minnesota 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 involves facing some uncomfortable realities, it is critical and unavoidable.

Do I Need a Waite Park, Minnesota Estate Planning Attorney?

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