Estate planning is a very broad term in Perkasie, Pennsylvania, referring to a person's arrangements on issues that affect them and their family toward the end of their life. These might contain 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.
The drafting of a will, which simply states what you wish to be done with your property after death, is typically one of the most essential parts of an estate plan. Of course, it's rarely the only one. There are many other things you might want to include, depending on your objectives.
Besides a will, a quality estate plan will contain a living will, which gives your doctors and relatives directions regarding your healthcare in the event that you become incapacitated, funeral arrangements, and instructions on organ donations.
Perhaps most especially, your estate plan should make arrangements for the care and custody of your minor children, if you have any. Of course, you should discuss this matter with the person you intend to take custody of the children beforehand, to ensure that they are able and willing to provide proper care.
What Type of Estate Plan Do I Need in Perkasie, Pennsylvania?
The answer to this question varies on your individual needs, your priorities, your health, and the size and nature of your estate.
For example, if you're unmarried, and in your early 20's, estate planning is probably not the most essential thing in your life. However, if you're seriously ill, and/or unusually wealthy, estate planning might be a priority for you.
If you're not married in Perkasie, Pennsylvania, 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. Furthermore, your will should precisely 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 Perkasie, Pennsylvania 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 imperative.
Do I Need a Perkasie, Pennsylvania Estate Planning Attorney?
Because estate planning in Perkasie, Pennsylvania is not always simple, the assistance of a reliable attorney will almost certainly be useful, and worth the cost. This is doubly true because of how critical the issues involved can be, and the fact that a relatively minor mistake can sometimes derail an entire estate plan.