You can never start too early when it comes to estate planning. Estate planning is more than just planning for asset and property distribution; it’s planning for the future. Although making decisions regarding financial, medical and other aspects of your life in the future may seem daunting, it is essential if you want you and your loved ones to be taken care of. With a Houston estate planning attorney, you can begin shaping how you want your future to look.
In order to have an estate plan that covers all bases, you will need: a will, a durable power of attorney, a medical power of attorney and an advanced healthcare directive. A will is a document that determines how your assets and property are to be distributed after you have passed. This step is incredibly important- if you are unable to make clear how you wish your assets and property to be handled after you pass, then it may cause strife between your loved ones as the courts take the lead in determining who gets what. In Houston, the person to whom you assign a durable power of attorney will make financial decisions on your behalf. With such responsibility, you will want someone who has a clear understanding of business and finance in order to make decisions that will best suit you and your family. If you do not assign a durable power of attorney, the government will assign a guardian to handle those affairs for you. The person to whom you assign the medical power of attorney will make medical decisions on your behalf. Although you may want to choose your spouse for this position, keep in mind that they will be emotionally distressed when they have to make medical decisions for you. Sometimes, it may be better if you choose someone who can remain calm even in times of hardship. On a similar note, an advanced healthcare directive is a document in which you will state any medical decisions (or other decisions regarding your death) that you see fit. With this, you will be able to relieve your family from making difficult choices and allow them to grieve.
Estate planning is the best gift you can give your loved ones because you are making plans with them in mind as well as plans to take care of yourself. With a seasoned estate planning attorney, you will have all the tools you need to create the best estate plan for your future.