"Estate planning" in Pelham refers to the decisions a person makes concerning what is to be done with their assets after their death, and the procedure of implementing those wishes.
You will usually need to seek the help of a professional with legal and/or financial expertise when in the process of estate planning. Simple mistakes in an estate plan can cause significant problems, including legal and personal conflicts between your survivors.
Estate planning can have various positive effects on the planner during life, as well. These benefits are typically somewhat intangible, revolving around the peace of mind that comes with knowing that, after your death, you family will be taken care of and that they'll know what your last wishes are. Nonetheless, most people find this very valuable. To that end, you should come up with a power-of-attorney agreement. When you grant someone power of attorney, you have given them the power to make specific decisions on your behalf. You can grant them as much or as little authority as you want. Most individuals, however, give family members or life partners power of attorney with respect to medical care, so if they become incapacitated, their wishes will still be carried out.
The last thing a person wants to think about is the possibility that, after their death, their survivors are fighting over some part of their estate plan that's ambiguous or otherwise contentious. If you want to keep this, or at least make it far less possible, you should have the help of a Pelham attorney every step of the way.
Common Features of Pelham Estates
Will: A will is often the central component of an estate plan. It is a legal document which says what is to be done with a person's assets after they die. It typically involves giving money and property to the testator's close family members, friends, and sometimes charitable organizations.
Living Will: A living will contains instructions about your medical care, usually for the purpose of informing your family and doctors of your preferences if you suddenly become incapacitated. A living will is quite critical if you have any strong preferences in this area. It should be written with the advice of a doctor, so you know the particular medical consequences of your decisions, and a lawyer, so it is virtually guaranteed to be legally binding.
Power of Attorney: What if you become incapacitated, and can't make your own decisions? It would be nice if somebody knew what you would want in a given situation, and, on top of that, had the legal authority to make that decision for you. Power of attorney lets you do precisely that, granting a person of your choice the ability to make certain decisions for you, in case you, for whatever reason, can't (you can, of course, control the scope of power that you grant).
Funeral Arrangements: What do you want done with your body after you die? Do you want to be cremated? How about buried? Or maybe you want to be cremated, and have your remains shot into space? Whatever your preference, you won't exactly be able to tell anyone when the time comes. Consequently, you should make your desires on this matter known well in advance. You also shouldn't make your will the only place where these instructions are included, since it might not be read for weeks after your death, when it will likely be too late.
Do I Need a Pelham Estates Lawyer?
A reliable estate planning professional in Pelham can be invaluable, and you will probably find their services to be well worth the price. They can make the whole process a great deal simpler, and they can also help to minimize the chances that your estate plan will be disputed, saving your survivors a great deal of time, money, and energy.