Estate planning is a very broad term in Worthington, Ohio, referring to a person's arrangements on issues that affect them and their family toward the end of their life. These might include instructions for end-of-life care, as well as drafting a will or other document with the intent of disposing of one's property after their death.

While the drafting of a will (the document that dictates what is to be done with the decedent's property after death) is typically the central component of any estate plan, there are many other elements which you may want to include, depending on your goals, and your financial situation.

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 identified 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 necessary to discuss this matter with that person before you truly do it.

What Type of Estate Plan Do I Need in Worthington, Ohio?

The answer to this question depends largely on your goals and priorities, as well as your age, health, and the amount of assets you have.

Unmarried young adults usually don't think much about estate planning. In most cases, this is fine. Unless you are extremely sick or have an unusually large amount of assets, estate planning is not something to really worry about at this point in your life.

There is one group of unmarried people for whom estate planning in Worthington, Ohio is absolutely necessary: 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 various steps to secure these rights, such as granting power of attorney, and writing them into your will.

There is another considerable group of people who would benefit from having a good Worthington, Ohio estate plan: the elderly and those with a lot of money really need to consider making a comprehensive estate plan as soon as possible. While this necessarily includes facing some uncomfortable realities, it is necessary and unavoidable.

Do I Need a Worthington, Ohio Estate Planning Attorney?

Estate planning in Worthington, Ohio is not always perplexing, but it certainly can be. In moderately-sized to large estates, with a substantial number of potential beneficiaries, it is crucial to have the assistance of an estate planning professional.