When Texas residents are getting ready to start their estate planning efforts, they probably talk to people they know who have a plan in place or even do some online research on their own first. There’s nothing wrong with that, but it is important to remember that any given estate plan will almost certainly look different from another. Your estate plan will be unique to your own finances and family situation. So, what will your estate plan look like?
There are some common features of most estate plans. For example, a will is usually the bedrock document in any given estate plan. This is a document that allows you to provide exact details of how you would like your estate to be distributed and, for those with minor children, how those children should be cared for, and by whom.
Beyond a will, power of attorney documents are certainly important as well. These documents allow you to pick a person, or multiple people, to make important financial or healthcare decision on your behalf, if you are unable to do so because of some type of incapacitation.
Pick what is right for you
Many other estate plans will include provisions for trusts to be established, as well as “living wills” in which you can provide details about your preferences for end-of-life healthcare, for example. You need to pick the options that are right for you and your family. At our law firm, we do our best to help our clients do just that. For more information, please visit the estate planning overview section of our law firm’s website.