Estate planning is a very broad term in North Augusta, South Carolina, referring to a person's choices 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.
One of the first things an estate planner will ask you about when you come to them for assistance is what you want to put in your will. A will is a document which says who is going to get your property after your death. Once it is proven valid, a will is binding, meaning that the beneficiaries get legal ownership of whatever is left to them. Obviously, if you have any interest in what is done with your property after you die, a will is going to be at the center of your estate plan. Nonetheless, it is rarely the only part of a solid estate plan.
In addition to a well-drafted will, a comprehensive estate plan should contain things like a living will (healthcare directives made in advance, in case you become incapacitated and unable to make or express such decisions), funeral instructions, and instructions relating to organ donations.
If you have young children, it is absolutely crucial that you make arrangements for their care, as well as their custody. Obviously, if you want someone specific to take custody of them in the event something happens, you need to discuss the matter with them, to ensure that they are actually able and willing to care for them.
What Type of Estate Plan Do I Need in North Augusta, South Carolina?
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.
If you're not married in North Augusta, South Carolina, but have a life partner, estate planning is necessary. 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 massive amount of money in North Augusta, South Carolina 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 imperative.
Do I Need a North Augusta, South Carolina Estate Planning Attorney?
Because estate planning in North Augusta, South Carolina is not always simple, the assistance of a seasoned 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.