In addition to passing on their assets, many parents would also like to pass on their ethics and spiritual beliefs to their children. Fortunately, a comprehensive estate plan can provide you with the opportunity to achieve these goals.
This article reviews some of the powerful ways that you can add a degree of spirituality to your estate plan.
End-of-Life Medical Decisions
One of the most common types of estate planning documents is Medical Powers of Attorney, which allow a loved one to make decisions for you in case you become incapacitated. As a result, you can make sure that your appointed agent has religious beliefs that are similar to your own.
Closely related to Medical Powers of Attorney are Living Wills, which allow a person to articulate the type of life-prolonging care that they would like to receive in case life support becomes necessary. Many people discover that their faith has a profound impact on how these documents are written.
These estate planning documents also allow a person to express their opinion about organ donation and religious rites, which are other important spiritual issues.
Burial and Funeral Plans
No matter what your spiritual perspective is on death, you can express your wishes concerning how you would like your body to be disposed of following your death. These instructions can be as specific or as general as you would like.
Many religions emphasize helping the poor as well as the disadvantaged. Fortunately, through the proper strategies, it is possible to use estate plans to pass assets on to any religious organization, charity, or entity that you desire.
Distributions to Loved Ones
One of the most important aspects of estate plans is making sure that your assets are properly based on to your loved ones. To make sure that your assets are distributed in the best possible manner, you should have a clear understanding of the nature of your beneficiaries.
Many people also use the distribution process to express details about their faith and the importance it played in their life. Some people even make sure that the executor of an estate is an individual who has similar religious beliefs and that assets are used to help loved ones receive a religious education.
Remain Cautious of Penalties
It is often a wise idea to avoid creating estate plans that contain penalties if an individual does not have your religious beliefs. This is because courts tend to strike down this type of language in estate plans if they are challenged by the recipient.
Furthermore, placing this type of language in an estate plan can create substantial conflict among your surviving loved ones.
Contact an Experienced Estate Planning Lawyer
While transferring your spiritual beliefs to your loved ones take a substantial amount of time, appropriate estate planning can greatly help in this process.
To make sure that you have the strongest estate plan possible, a knowledgeable attorney can prove particularly beneficial. Contact attorney James A Lyon today.