"Estate planning" in Calverton 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.
The problems that estate planning raises are sometimes very perplexing. Without competent legal and financial advice, many problems can pop up, which can quickly throw your entire plan into disarray, and cost your survivors a great deal of time, energy, and money.
In the process of estate planning, you'll likely also deal with issues that can affect you during life. These include issues like power of attorney (to ensure that your wishes are carried out even if you're unable to express them), as well as instructions to your doctors and family regarding medical care. A seasoned estate planner can also help you achieve your goals, while minimizing the effects of expenses like court fees and taxes.
A seasoned Calverton professional experienced in estate planning can make this procedure a great deal easier. They can also help ensure that your estate plan does not end up in court.
Common Features of Calverton Estates
Will: This is normally a major component in any estate plan. A will is a document in which a person lays out what they want done with their property after their death. These gifts normally have the effect of transferring legal ownership of the property to the named beneficiary.
Living Will: A living will contains instructions about your medical care, typically for the purpose of informing your family and doctors of your preferences if you suddenly become incapacitated. A living will is extremely 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: Power of attorney allows you to grant someone else (normally a trusted family member or friend) the power to make certain decisions in your place, with the same legal effect as if you had made them yourself, in the event that you become unable to do so (normally due to mental or physical incapacity). If you decide to give someone power of attorney, you should make your wishes known to them in advance, so they are more likely to make the same decisions that you would make, if you were able to. And, of course, you should exclusively give this authority to someone with whom you would trust your life because that is, in some cases, just what you're doing.
Funeral Arrangements: If you have any strong preferences concerning the disposition of your physical remains, you should make them known to your family early, and should not include funeral instructions in your will. Wills are commonly read weeks after the testator dies, so in most cases, it will be too late by then.
Do I Need a Calverton Estates Lawyer?
A seasoned estates lawyer in Calverton can make the estate planning process much easier. He or she can maximize the chances of your wishes being given effect. Additionally, a good and clear estate plan is far less likely to result in litigation in the future, since disputes of this nature are almost always the result of ambiguity.