When you’re thinking about the future, do you think about what will happen if something happens to you? Many times, people don’t begin to plan this until they are elderly, and if something unexpected happens their family will not be prepared. If you want to ensure that your family is prepared in case something happens to cause your early death, you want to make sure that you look into Estate Planning in Huntsville AL. Estate planning includes planning your will, trusts, living wills, and guardianship.
Your will is very important if you have valuables which you want to leave to certain family members or friends. It also dictates how any debts will be paid off and where your money will go. You have many options for this, so it’s something that you want to think over and speak to a lawyer about. A lawyer such as one from Long Flanagan and McDonald LLC can help you review your current finances to figure out a plan for your will.
If you have money that you would like to go to your children, you may want to consider a trust. A lawyer can help create a trust for you, and any money that you put into a trust will be given to the child when the terms you set forth are completed. Many people choose to give the child the money when they reach a certain age or choose a plan to give the child a set amount from the money each month.
Living wills differ from other wills in that they dictate what happens if you are still alive, but unable to live outside of a hospital setting. In this, many people dictate if and when they want to be taken off of life support and if they want to be resuscitated.
If you have young children, you’re going to want to set up guardianship for them in case anything happens to you. You will name a family member or friend whom you would like to care for your child or children if you die unexpectedly.
To talk to someone about creating one or all of these documents, you will want to speak with a lawyer who works with Estate Planning in Huntsville AL. They can walk you though each document and explain to you what all of your options are.
