Estate planning is a very broad term in Davis County, Utah, 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.
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.
Besides a will, a quality estate plan will include a living will, which gives your doctors and relatives instructions concerning your healthcare in the event that you become incapacitated, funeral arrangements, and instructions on 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 Davis County, Utah?
The answer to this question depends on your individual needs, your priorities, your health, and the size and nature of your estate.
If you are young and unmarried, estate planning probably doesn't need to be on your radar, unless you are very ill, independently wealthy, or perhaps if you work in a very dangerous job, such as the military.
If you are unmarried, but have a life partner in Davis County, Utah, estate planning is crucial, if you wish for your life partner to be treated as if he or she were your spouse (to the extent possible). In such a situation, the estate plan should make arrangements to give your life partner power of attorney in case you become incapacitated. Your will should also clearly include your partner (if you wish for them to inherit any of your assets).
Other groups for whom estate planning is very necessary in Davis County, Utah are people who are elderly and/or have a lot of assets. This may be the point in one's life where estate planning is most necessary. 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 extremely important if you value the security that comes with the knowledge that your family will be provided for.
Do I Need a Davis County, Utah Estate Planning Attorney?
Because estate planning in Davis County, Utah 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.