Estate planning in Creve Coeur, Missouri 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.
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 normally not the only element. There are many other important things that most estate plans should include.
A will is rarely the only aspect of a comprehensive estate plan. Most individuals have extremely 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.
Crucially, your plan should make arrangements for the care and custody of your children, if they are minors. Nonetheless you should initially 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 Creve Coeur, Missouri?
Obviously, this depends on your needs, which you will have to figure out for yourself. Some basic considerations in making this decision, however, are your health, age, and the amount of assets involved.
Unmarried young adults typically don't think much about estate planning. In most cases, this is fine. Unless you are very sick or have an unusually large amount of assets, estate planning is not something to really worry about at this point in your life.
If you have a life partner in Creve Coeur, Missouri, but aren't married to him or her, estate planning is essential. If you want your partner to have most of the same rights and responsibilities as a spouse, it's normally possible with good estate planning. You should grant your partner power of attorney, so they can make choices for you in case you become incapacitated. Additionally, you should name your partner as a beneficiary in your will, because, unlike a spouse, a life partner will not automatically inherit your property if you die without a will.
If you are very old, and have a considerable estate in Creve Coeur, Missouri, you should definitely come up with an estate plan if you haven't already. Admittedly, this contains confronting some unpleasant and morbid subjects, but it is still very essential. Estate planning is essential if you care at all what happens to your property, and, more importantly, your loved ones, after you die.
Do I Need a Creve Coeur, Missouri Estate Planning Attorney?
Because estate planning in Creve Coeur, Missouri can involve some complicated legal and financial issues, it is essential to undertake this task with the guidance of an experienced attorney who specializes in estate planning.