20 Dec
Most individuals in Texas or anywhere around the nation avoid thinking about a time in the future when they are no longer around or are unable to take care of themselves. Yet, that is a topic that should be addressed when someone is still able to make decisions about how things should be handled when that time comes. It is important to discuss the issues as part of one’s estate planning process.
Having a will is typically the first — or only — document in the majority of estate plans. Yet, the AARP cites that almost 60 percent of people in the nation do not even have a will. Experts recommend going beyond drafting a will to include directives on what should be done should a person die or become incapacitated.
An estate plan would certainly include specifications about how one’s assets are to be divided. It is important to also note who should manage the estate if someone can no longer perform that function. The issue of medical decisions is a critical part of an estate plan as well. It is comforting to know that a specific trusted person has been designated to make determinations about one’s medical care or end-of-life decisions. If minor children are involved, naming guardians for them and specifying instructions about their upbringing can bring peace of mind should something unforeseen happen.
Estate planning is a very complex process and each plan is as unique as the individual making it. A Texas attorney familiar with estate administration can provide valuable guidance when developing a plan. An experienced lawyer will work with clients to ensure that their specific needs are thoroughly addressed in the process.