Estate planning is something every adult needs to go through. Many people mistakenly believe estate planning is simply for the rich. In reality, everyone who owns any property needs to go through estate planning. If this process is not taken care of, the state will decide who gets what when a person dies. With this information, people can better understand how an attorney in LaGrange, Indiana, can help them pursue the planning stages, so their estate is settled, should they pass away.
There are several steps that are involved in estate planning:
* A person will need to decide who is the beneficiary of their estate. More than one person can be a beneficiary and the one filing the will can and should be as specific as possible in naming who gets what, to cut down on confusion. Without a will in place, the state will award the estate first to the spouse and then to the children, if there is no spouse or it has deceased.
* A will spell out a person’s final wishes and is an important document to file. Although one does not need the help of an attorney to create their will, it’s a good move to seek legal guidance, so that one can fully understand the legal ramifications of each decision made.
* A living will is also an important part of estate planning. A living will put a proxy in charge of making important decisions for a person, should they become seriously injured or ill and are unable to make decisions. A living will lists whether or not a person wants life-saving measures to be put in place.
* As a parent, one of the most important decisions one can make is deciding who will care for their children, should they become deceased before the children come of age. If this is not planned, the state will decide who gets the children.
If you have been putting off estate planning, now is the time. With the help of an attorney in LaGrange, Indiana, the process will be much less stressful. For more information, browse the website of Grimm & Grimm. They will help you through each stage of estate planning to ensure your estate is properly secured.