When planning for the final disposition of your estate in Carlisle, Ohio, 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 handled? Do you have any certain wishes concerning 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 normally not the only element. There are many other critical things that most estate plans should include.
A solid estate plan will also include instructions to your doctors about your preferences for end of life care, in case you become unable to express them. This is recognized as a "living will." It should also include instructions about funeral arrangements and organ donation.
For anyone who has children who are still minors, it is very important to make arrangements for their custody and care, just in case the unthinkable happens. You should think of a family member or very 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 really do it.
What Type of Estate Plan Do I Need in Carlisle, Ohio?
This normally depends on your individual goals and priorities, your age, health, and the nature and quantity of your assets.
For example, if you are in your 20's and unmarried, an estate plan probably 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 Carlisle, Ohio is absolutely essential: 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 many steps to secure these rights, such as granting power of attorney, and writing them into your will.
Individuals who are elderly and/or have a massive amount of money in Carlisle, Ohio 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 contains, but it's necessary.
Do I Need a Carlisle, Ohio Estate Planning Attorney?
Estate planning in Carlisle, Ohio is not always convoluted, but it certainly can be. In moderately-sized to large estates, with a considerable number of potential beneficiaries, it is crucial to have the assistance of an estate planning professional.