Estate Planning: What You Should Know
Allow your loved ones to avoid expensive legal procedures and be rest assured that your final wishes are being followed by properly planning your estate.
Power of Attorney
It enables the an individual to address all your business and personal affairs if it comes down to you being incapable of handling them. No matter who you choose and how much power you permit that individual, make sure that you discuss everything you adhere to with them, making sure your wishes are followed. You can also appoint an individual a medical power of attorney to make health care decisions if you cannot.
Health Care Decisions
Texas recognizes two types of documents regarding you receiving the medical care you want, and nothing beyond that.
- Advance Directives - Outlines the types of medical care you desire and the circumstances.
- Health Care Proxy - Appoints an individual to make the decisions if you are in a coma or unconscious.
Last Will and Testament gives the final instructions of your final wishes ie: being cremated, no funeral services, etc. Make sure you tell your loved ones if you are a registered organ donor.
Creating a Will
Your will tells how you want your personal properties/belongings to be distributed after your departure. If you are a parent you should make sure arrangements are made for care and guardianship of your children (if minors). Designate a trusted individual to be legally responsible for ensuring that any debts you owe are paid.
You are not required to hire an attorney to make a will, but having one thoroughly review it so that the document is legally defensible and correctly written so your intentions can be accomplished with no problem. Contact Us to look over your will today to make sure your wishes will be followed correctly.
If with a will, your estate might go through probate to make sure all debts and taxes will be settled. It's possible the process can be avoided if the property has already be passed to your spouse and has been distributed through trust, joint ownership, payable on death accounts or property transfers. If your estate is worth less that $50,000 you do not have to be probated.
Need to get your affairs all in order? Make sure your loved ones are safe and protected and want the best legal representation possible, call 432.687.5035 to set up a free consultation at Kirk & Williams: Attorneys at Law!