When planning for the final disposition of your estate in Butner, North Carolina, there are a few things you'll want to consider: who do you want to give your assets to, and under what conditions? Do you have any preference for how your funeral should be done? Do you have any specific wishes regarding end-of-life care? These questions, and more, should all be taken into account.
While the drafting of a will (the document that dictates what is to be done with the decedent's property after death) is usually the central component of any estate plan, there are numerous other elements which you may want to include, depending on your goals, and your financial situation.
For instance, a reputable 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.
For anyone who has children who are still minors, it is very essential to make arrangements for their custody and care, just in case the unthinkable occurs. You should think of a family member or extremely close friend who you know would be willing and able to take care of your children, and designate them as the person who would take custody. Of course, it's critical to discuss this matter with that person before you actually do it.
What Type of Estate Plan Do I Need in Butner, North Carolina?
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.
If you are in good health, young, and not married, planning an estate is likely not a high priority. And at this time in your life, it doesn't really have to be, with a few possible exceptions, such as individuals who work in very hazardous jobs, or who are very wealthy.
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 Butner, North Carolina 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 Butner, North Carolina 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 Butner, North Carolina Estate Planning Attorney?
Because estate planning in Butner, North Carolina is not always simple, the assistance of a reputable attorney will almost certainly be useful, and worth the cost. This is doubly true because of how essential the issues involved can be, and the fact that a relatively minor mistake can sometimes derail an entire estate plan.