If you are making decisions in Delavan about what to do with everything you own after your death, and your other affairs that should be wrapped up at that time, you are in the process of "estate planning."
You will usually need to seek the help of a professional with legal and/or financial expertise when in the process of estate planning. Simple mistakes in an estate plan can cause significant problems, including legal and personal conflicts between your survivors.
In addition to post-death decisions, estate planning also concerns issues that might affect you during your life, such as granting power of attorney to a family member or trusted friend in case you become unable to make your own decisions regarding your finances or medical care. Furthermore, effective estate planning can minimize the impact that estate taxes and court fees will have on your final disposition to your loved ones.
If you want to maximize the odds that your wishes will be followed after your death, you should do everything you can to make them legally binding. While this is not always possible, a Delavan attorney will be able to make sure that, where it is permitted, it is done.
Common Features of Delavan Estates
Will: This is usually a major component in any estate plan. A will is a document in which a person lays out what they want done with their property after their death. These gifts usually have the effect of transferring legal ownership of the property to the named beneficiary.
Living Will: Unlike ordinary wills, a living will contains instructions regarding a person's medical care. Some recent high-profile controversies have illustrated the importance of making a living will, even for younger individuals. In a living will, you can give your family members and doctors instructions about your desired medical care, in case you become incapacitated (comatose or brain-dead, for example) and can't tell them yourself. Some people say that they would not want to be kept alive by artificial means if they are in a vegetative state, and there's no chance of recovery. If this is you, that's definitely something to include in a living will. Of course, if you would prefer the opposite, being kept alive as long as is medically permitted, you can put that in your living will, as well.
Power of Attorney: This is an arrangement in which you give someone else, usually a trusted family member, the permission to make financial and medical decisions on your behalf, in case you become unable to make or express your own decisions.
Funeral Arrangements: If you have any strong preferences concerning the disposition of your physical remains, you should make them known to your family early, and should not include funeral instructions in your will. Wills are often read weeks after the testator dies, so in most cases, it will be too late by then.
Do I Need a Delavan Estates Lawyer?
A reputable lawyer in Delavan can make the process of estate planning as easy as it possibly can be. He or she can help ensure that your wishes are given effect, and minimize the chances of disputes between your survivors.