Estate planning offers a sense of security to people at all stages of life. In addition to passing your property and assets to your heirs, you can ensure that your wishes for end-of-life care and other important issues are clear. Here are the documents that almost everyone can benefit from:
Wills detail who should receive your property after your death. They can also direct how your assets should be distributed through the creation of a trust. Ownership of your assets will pass to the trust, which is managed by a trustee, who will administer the assets for the benefit of the person receiving the property.
Texas residents can sign advance directives, which ensure that medical providers and family members behave according to their wishes in case they become unable to make decisions themselves. Some of these documents are:
Parents, grandparents and legal guardians should designate in their wills a person or family they trust with the care of their minor children.
Designation of Beneficiaries
Certain assets are given to people outside of a will or trust. Some of these assets are life insurance policies and investment, bank or 401(k) accounts. Many people neglect to update these assets’ beneficiaries, the person named to receive them, after important life events such as divorce or death.
Although these documents may seem straightforward, Texas law has strict requirements about the way they should be drafted. The Round Rock estate planning attorneys at the Jackson Law Firm can guide clients through the process of planning for emergencies or end-of-life care, no matter their need. Contact our firm today to begin building a plan that will ensure that you are ready for whatever life brings next.
For more information on our Round Rock Estate Planning Lawyer, please visit our site.