Taking steps to provide for and protect loved ones is a noble effort, but who will be there for them if something happens? Texas residents need to consider what will happen to them if they become incapacitated or otherwise unable to make decisions for themselves. By including advance directives into the estate planning process, both the individuals doing the planning and their families can enjoy some peace of mind.
Advance directives are a vital part of estate planning
Probate is not always easy for an executor
Dealing with disputes and challenges is not always what someone imagines when he or she accepts the duty of being executor of a loved one's Texas estate. Most may imagine the executor as the one who doles out the assets according to the wishes of the deceased. However, along with the many and sometimes complex responsibilities, an executor often takes on considerable risk from the earliest days of the probate process.
An inheritance is not always a guarantee
Receiving assets from a recently deceased loved one can often seem like a blessing. The inheritance could allow a person to still feel connected to his or her loved one, or it could help an individual handle a difficult financial spot. Of course, even if individuals anticipate receiving assets, it is important to remember that it may not be a guarantee.
Why having a will is not always enough
Estate planning is important, which most adults in Texas can probably agree on. Agreeing on what should go into those estate plans might be a little more difficult. This is partly because everyone's estate planning needs are different. However, it is important to not make assumptions about one's own needs, especially if an estate plan only consists of a will and nothing else.
