"Estate planning" in Atlantic City 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 normally 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 particular 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 an Atlantic City attorney every step of the way.
Common Features of Atlantic City Estates
Will: This is the centerpiece of most estate plans. A will is a document written by a person (the "testator"), normally with the help of a lawyer, which says what is to be done with their property after they die. Most provisions in a will are legally binding, to the extent that ownership of the property legally passes to the named beneficiary. Nonetheless, a will cannot compel a person to do anything against their wishes (though it can certainly state your preferences on the matter, phrasing them as requests).
Living Will: This is a document which articulates your wishes regarding your medical care, to give instructions to your family and doctors in the event that you become incapacitated. While really consulting it will hopefully never be necessary, one never knows - unexpected illnesses and injuries can happen to anyone, at any time. While making a living will might require a person to acknowledge the existence of some unpleasant possibilities, it can end up saving their loved ones a great deal of grief and uncertainty.
Power of Attorney: This is an arrangement in which you give someone else, normally a trusted family member, the permission to make financial and medical decisions on your behalf, in case you become unable to make or express your own decisions.
Funeral Arrangements: Whatever your preference on this matter (if you have a preference) you should make it known to your family both verbally and in writing. If you have very particular wishes regarding the final disposition of your mortal remains, you should not put those instructions in your will. Or, if you do, you should also put them somewhere else. Wills are usually not read for quite some time after a person dies, and the funeral is normally long over by then, so it will be too late to follow your instructions.
Do I Need a Atlantic City Estates Lawyer?
A seasoned lawyer in Atlantic City can make the process of estate planning as simple as it possibly can be. He or she can help ensure that your wishes are given effect, and minimize the chances of disputes between your survivors.