Generally speaking, everyone should take care of basic estate planning. In other words, everyone should make sure that their wishes followed through after their death. By doing so, your family can be spared from unnecessary expenses and delays. Additionally, you’ll have someone you trust in charge of important matters in the instance that you are unable to do so yourself.
Adults in the state of Texas should have the following estate planning documents:
- A will, to leave assets and also to name your executor
- A durable power of attorney for finances, which names a designated person to manage your finances in instances where it’s necessary
- The living will, (In the state Texas, this is called a Directive to Physicians and Family or Surrogates or an advanced directive), this document spells out your end-of-life wishes
- Medical Power of Attorney, a document that names someone to ensure your health care wishes are carried through
Residents of Texas should also look into probate-avoidance. While Texas’ probate is better than other states in terms of simplicity, people tend to prefer to avoid probate court proceedings altogether. The reason for this is that avoiding probate saves families money and hassle. In order to avoid probate, you’ll need to plan ahead of time. Alternatively, your family may be subject to a probate court proceeding. This court proceeding will give families the authority to transfer your assets to those who inherit them. Methods such as a living trust can help avoid probate.
Experienced Estate Planning Attorney
Rashelle Fetty, The Fetty Firm’s sole attorney, has over ten years in the legal sector. This experience proves greatly valuable when providing individualized services to her clients. After all, you need to create an estate plan that fits you and your unique circumstances. If you haven’t taken care of your estate planning yet, the time to do so is now. The Fetty Firm can provide assistance with:
- Advanced Directives/Living Will
- HIPAA Forms
- Designation of Guardian
- Powers of Attorney