When planning for the final disposition of your estate in Plattsburgh, New York, 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.
The creation of a will (the document laying out what is to be done with your property after your death) is an essential element of an estate plan, but it is usually not the only element. There are many other critical things that most estate plans should include.
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 critical 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 Plattsburgh, New York?
Obviously, this depends on your needs, which you will have to figure out for yourself. Some usual considerations in making this decision, however, are your health, age, and the amount of assets involved.
For instance, if you are in your 20's and unmarried, an estate plan likely does not need to be on your priorities, unless you are very ill, or independently wealthy.
There is one group of unmarried people for whom estate planning in Plattsburgh, New York is absolutely crucial: adults who are not married, but have a life partner who they'd like to provide for in the event of death. There are many rights that automatically attach with marriage, such as the right to inherit if a spouse dies without a will, the right to make medical decisions for the other spouse if they become incapacitated, etc. If you and your partner are, for whatever reason, unable or unwilling to get married, you will have to take several steps to secure these rights, such as authorizing power of attorney, and writing them into your will.
Individuals who are elderly and/or have a large amount of money in Plattsburgh, New York are probably more in need of an estate plan than almost anyone else. Most people place a lot of value in the peace of mind that comes when they know that the people they love, or the causes they care about, will be taken care of after their death. Of course, nobody likes to confront the facts that this process always involves, but it's imperative.
Do I Need a Plattsburgh, New York Estate Planning Attorney?
Because estate planning in Plattsburgh, New York can involve some convoluted legal and financial issues, it is crucial to undertake this task with the guidance of an experienced attorney who specializes in estate planning.