Though most people hope that they will maintain their good health and senses until their dying day, that is not what happens for a significant number of individuals in Texas and across the country. Needing care in a nursing facility is common for people over the age of 65, and though necessary, it can be costly. As a result, some people look into Medicaid planning early in hopes of obtaining assistance.
Medicaid planning may help with future care costs
Help creating power of attorney, advance directives in Texas
When most people in Texas think of estate planning, the first thing that often comes to mind is tools such as wills and living trusts. While these documents are important parts of a plan, there are others that can also help provide families peace of mind should the unthinkable happen. Fortunately, the attorneys at Livens & Reed, PLLC have the necessary skills and experience to guide the creation of such documents, including granting someone power of attorney.
When does a will need to be updated?
For many people in Texas, the process of planning for a future in which they are not present is a difficult task to undertake. However, creating a will and other estate planning documents often provides peace of mind to many people, because with it comes the knowledge that they have expressed their wishes and taken action to provide for minor children. But a will is not a static document and needs to be updated periodically.
Ensuring an estate plan fully meets the creator's needs
It is usual for people in Texas to plan for the future. Often, these plans consider important financial considerations that are part of an estate plan. While there are a variety of different options and tools available to those completing such planning, there are ways for people to create a plan that is enforceable and fully represents their wishes and goals.
What is a trust?
To many people in Texas, the estate planning process is based solely on the creation of a will. While this document has an important job, such as naming a guardian for a deceased child, there are other tools that can be beneficial. For example, many people decide that a trust is a good option for managing their assets and providing protection for them.
