When planning for the final disposition of your estate in Mount Olive, 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 certain wishes regarding end-of-life care? These questions, and more, should all be taken into account.
The drafting of a will, which simply states what you wish to be done with your property after death, is normally one of the most important parts of an estate plan. Of course, it's rarely the only one. There are many other things you might want to include, depending on your objectives.
In addition to a well-drafted will, a comprehensive estate plan should contain 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.
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 important to discuss this matter with that person before you really do it.
What Type of Estate Plan Do I Need in Mount Olive, North Carolina?
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 are unmarried, but have a life partner in Mount Olive, North Carolina, estate planning is crucial, if you wish for your life partner to be treated as if he or she were your spouse (to the extent possible). In such a case, the estate plan should make arrangements to give your life partner power of attorney in case you become incapacitated. Your will should also precisely include your partner (if you wish for them to inherit any of your assets).
Other groups for whom estate planning is very important in Mount Olive, North Carolina are people who are elderly and/or have a lot of assets. This may be the time in one's life where estate planning is most important. While it's true that the process of making an estate plan requires a person to deal directly with the reality of their own mortality, it is very important if you value the security that comes with the knowledge that your family will be provided for.
Do I Need a Mount Olive, North Carolina Estate Planning Attorney?
Because estate planning can be a difficult process, the expertise of a good lawyer in Mount Olive, North Carolina who specializes in wills, trusts, and estates can make the process a great deal easier.