Estate Planning, in essence, is the careful planning of your future. Where will your assets go once you’ve passed? What will happen to you if you become severely mentally or physically ill? It can be stressful to think about all these kinds of questions at once, but they are important to consider. In order to make sure you have a valid estate plan, such as a will or trust, along with everything you could desire for your future, it is essential that you consult an Ann Arbor estate planning attorney that can give you the tools to succeed.
One of the most important aspects of your estate planning is you. How do you want to be taken care of when you’re older? Is there someone you would trust to make medical decisions for you? In Ann Arbor, you have the option to have a healthcare power of attorney where you can appoint someone to take care of such matters. Of course, they will only be able to make medical decisions for you once you are no longer able to make those decisions for yourself. Also, with an estate planning attorney, you can craft an advanced directive that states specifically how you would want to be taken care of in different medical situations. This way, you will have a loved one taking care of you as well as the peace of mind knowing that your medical wishes will always be respected.
Another aspect of estate planning is determining how you will want your property and assets managed and dispersed after your passing. Will you choose a will or a trust? Who do you want to manage your estate after you’ve passed? It is common for individuals to appoint an executor (or multiple if needed) and beneficiaries (which will be loved ones that will inherit your property). And be sure to choose executors who will fulfill their responsibilities despite the pain that your death may cause them – which is why spouses are not usually chosen as executors. Without a doubt, answering these questions can be tough. In order to make sure that your wishes concerning your health and division of assets and property are met, by hiring an estate planning attorney you can make sure that your future will be set.