When planning for the final disposition of your estate in Powell, 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 particular 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 typically not the only element. There are many other necessary things that most estate plans should include.
A will is rarely the only aspect of a comprehensive estate plan. Most persons have quite strong preferences about their end-of-life care, especially when, and under what circumstances, they would want to be taken off life support, if that every happens. These wishes should be made in writing, and discussed with family. Additionally, preferences on organ donation and funeral arrangements should also be made clear.
Crucially, your plan should make arrangements for the care and custody of your children, if they are minors. However you should first discuss this matter with the person who you intend to take custody of your children in case something happens to you, to make sure they are willing and able to do so.
What Type of Estate Plan Do I Need in Powell, Ohio?
The answer to this question depends on your individual needs, your priorities, your health, and the size and nature of your estate.
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.
If you're not married in Powell, Ohio, but have a life partner, estate planning is imperative. If you want your partner to be treated as your spouse, your estate plan should make arrangements to give him or her power of attorney in the event that you become incapacitated. Additionally, your will should clearly name your partner as a beneficiary, if you want them to inherit any of your assets.
Individuals who are elderly and/or have a considerable amount of money in Powell, 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 includes, but it's essential.
Do I Need a Powell, Ohio Estate Planning Attorney?
Because estate planning in Powell, Ohio is not always simple, the assistance of a knowledgeable attorney will almost certainly be useful, and worth the cost. This is doubly true because of how crucial the issues involved can be, and the fact that a relatively minor mistake can sometimes derail an entire estate plan.