Estate planning is a very broad term in Swarthmore, 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 critical 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.

Most notably, an estate plan should give instructions on the care of your minor children. It should lay out who is to take custody of them, and, if possible, leave them a large sum of money to assist with this care. Of course, you should discuss this matter with the people who you want to take custody of your children, to make sure they can truly take on such responsibility.

What Type of Estate Plan Do I Need in Swarthmore, Pennsylvania?

Obviously, the answer to this depends on many factors, as well as your goals and preferences. But, most people, when deciding what type of estate plan they need, consider their health, age, and wealth.

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.

Individuals who are, for varied possible reasons, unwilling or unable to get married, but are in committed, lifelong relationships, are perhaps most in need of a good Swarthmore, Pennsylvania estate plan. Because couples who aren't married don't automatically get any of the legal rights (such as hospital visitation, inheritance rights, and power of attorney) that come with marriage, they have to secure these rights through other means, such as wills and power of attorney agreements.

Other groups for whom estate planning is very critical in Swarthmore, Pennsylvania are people who are elderly and/or have a lot of assets. This may be the time in one's life where estate planning is most critical. While it's true that the process of making an estate plan requires a person to deal directly with the reality of their own mortality, it is very important if you value the security that comes with the knowledge that your family will be provided for.

Do I Need a Swarthmore, Pennsylvania Estate Planning Attorney?

Because estate planning in Swarthmore, 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 essential the issues involved can be, and the fact that a relatively minor mistake can sometimes derail an entire estate plan.