If you are making choices in Elm Grove 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 frequently 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 egregious 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. Additionally, 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, an Elm Grove attorney will be able to make sure that, where it is feasible, it is done.

Common Features of Elm Grove Estates

Will: This is normally 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 normally have the effect of transferring legal ownership of the property to the named beneficiary.

Living Will: This is a document which articulates your wishes regarding your medical care, to give instructions to your family and doctors in the event that you become incapacitated. While really consulting it will hopefully never be necessary, one never knows - unexpected illnesses and injuries can happen to anyone, at any time. While making a living will might require a person to acknowledge the existence of some unpleasant possibilities, it can end up saving their loved ones a great deal of grief and uncertainty.

Power of Attorney: Power of attorney, while important, is not to be used lightly. This is because it involves granting someone else the power to make legally-binding decisions on your behalf. Normally, your spouse will automatically have power of attorney if you become incapacitated. If you are not married, however, you need to make a document explicitly granting that authority to someone you trust (a life partner or close family member, for instance).

Funeral Arrangements: Whatever your preference on this matter (if you have a preference) you should make it known to your family both verbally and in writing. If you have very particular wishes regarding the final disposition of your mortal remains, you should not put those instructions in your will. Or, if you do, you should also put them somewhere else. Wills are usually not read for quite some time after a person dies, and the funeral is normally long over by then, so it will be too late to follow your instructions.

Do I Need a Elm Grove Estates Lawyer?

A poorly drafted or executed Elm Grove estate plan can have major negative consequences. For instance, it might be confusing to the people who are most directly affected by it. This confusion can commonly lead to costly litigation. For that reason, the advice of an accomplished estate planning attorney can be invaluable.