Creating an estate plan benefits both you and your loved ones. You can rest easy knowing exactly what will happen to your estate after your passing, and your family will benefit from the choices you made for their care when you are gone. In Avon Lake, the professional legal team of Kryszak & Associates has helped many Ohio residents create, update, and execute estate plans with legal expertise and empathetic representation. If you would like to learn more about the benefits of creating or updating your estate plan with our firm, call the office or contact us today to schedule a free consultation.
It is important to create a comprehensive estate plan that covers all aspects of your wishes for your estate. An attorney can review the specific details of your estate and provide you with expert legal guidance on what documents you should have to protect your interests as well as the interests of your heirs. Some of the most commonly included documents in an estate plan in Ohio include the following:
This is the most common estate planning instrument and what most people think of when they consider creating an estate plan. A will dictates who will inherit the assets of your estate after your passing. It can also appoint an executor of the estate to manage the probate process and take care of all final administrative matters. You can also use a will to create a trust for beneficiaries and to make any final requests for your estate after you are gone.
A living will is a document that delineates your wishes for medical care if you become unable to communicate those wishes on your own due to disability, injury, or cognitive issues. A living will can include everything you do and do not consent to in your treatment, including but not limited to, a Do Not Resuscitate form, breathing tubes, feeding tubes, intravenous medication or hydration, specific types of medication, hospice care, specific types of medical procedures, and more.
A power of attorney form gives another person the ability to make all legal and financial decisions on your behalf if you are unable to do so yourself. You should only choose someone who you trust completely to be your power of attorney, as they can potentially have full control over your estate. A power of attorney form allows someone to continue to manage your assets and make legal decisions that are in your best interests if you cannot.
Finally, a healthcare proxy form identifies a person to make medical decisions on your behalf if you cannot because of injury, disability, or cognitive impairment. If you also have a living will, a healthcare proxy is bound to those decisions. If you do not have a living will or if a medical decision is required that falls outside of its scope, the healthcare proxy will have the power to make that choice.
To learn more about the benefits of crafting an estate plan in the Avon Lake area, call the office or contact us today at Kryszak & Associates to speak with an expert in Ohio estate planning and to receive a free consultation of your case.