Estate planning includes a variety of things that all of us need to consider in order to make things easy for our family members in the event of our demise or incapacity.
You should start the process of planning your estate when you own property of any kind or have minor children you should start the process.
There are three main aspects of estate planning:
If you die without a Will, you are said to have died intestate. When someone dies intestate, Texas law lays out how the estate will be distributed in the Texas Probate Code. Under those provisions, the law draws a distinction between separate property and community property.
A power of attorney is a document that you allows you to appoint someone who can sign legal or financial documents (within limits) on your behalf, or make legal or financial decisions on your behalf.
Yes, there are different types of powers of attorney. For example:
A durable power of attorney is typically used when an individual is suffering from a mental or physical incapacity that prohibits them from signing documents or understanding documents that require their signature.
A limited power of attorney is typically used for a single transaction, such as a court appearance, or real estate closing and can be given regardless of incapacity.
Yes, you need a declaration of healthcare surrogate. If you become incapacitated to the extent that you cannot give informed consent to medical treatment or procedures, the declaration of healthcare directive surrogate allows an individual, who you appoint in advance of your incapacity, who make those decisions for you as well as have access to your medical records.