Wills and Estate Planning
Helping Texas families plan for the future – An estate plan is much more than simply arranging for the transfer of assets at the time of death. Creating an estate plan helps ensure that your heirs are provided for in the best possible way, including lifetime planning as well as distributing assets at death.
Estate planning benefits those with large estates as well as those with modest assets. Your estate plan should be designed to meet your specific needs and goals, and should provide guidance to your loved ones under a variety of situations. I help my clients address their needs and achieve their goals. If you neglect to make certain decisions regarding your financial affairs, or your minor children, the court will make those decisions for you.
- The most common estate planning tool is the will. The will provides for the distribution of assets according to the intent of the deceased, but the will can be much more than that. Your will also states who will care for and distribute your assets, describes how and when your assets will be distributed to your beneficiaries, and names a Guardian for your minor children, among many other things.
- Trusts can be created during your lifetime, or through your will upon your death. Trusts are no longer a tool just for the wealthy. A trust is a legal entity that controls the assets placed into it and directs how and when trust assets are distributed to your beneficiaries.
Directives to Physicians
- Also known as a Health Care Directive, this tool allows you to express your intent as to certain health care decisions if you are incapable of making those decisions because of your illness or incapacity.
Powers of Attorney
- Both Medical Powers of Attorney and Durable Powers of Attorney are essential estate planning tools. A Medical POA allows you to name certain loved ones to make medical treatment decisions for you if you are incapacitated. A Durable POA allows you to name certain loved ones to make decisions regarding your financial affairs if you are not capable of making those decisions.
- Because of certain privacy protections, health care providers may not release information to your loved ones regarding your medical condition, without being provided with a properly prepared medical release. If you are not capable of making treatment decisions, it is essential that the decision maker you name have the complete information regarding your medical condition. Medical releases allow health care providers to give your medical information to the persons you name.