What Goals Should Proper Estate Planning Accomplish For Someone?
The number one goal of proper estate planning is to distribute assets in accordance with the decedent’s wishes, and to do so as efficiently as possible.
When Is The Best Time To Start Planning For Your Estate?
The best time to start planning for an estate is at age 18. Anyone who is over the age of 18 should at least speak with an attorney or initiate an ongoing conversation regarding changes to their estate. This is because anyone can lose their capacity or pass away at any time, leaving behind a number of questions about what they would have wanted.
Why Do People Avoid Or Delay In Creating An Estate Plan?
One of the most common reasons people delay in creating estate plans is because they do not want to think about death. However, nearly every client expresses relief after having created an estate plan. Many people don’t even realize that many of their worries can be addressed through the creation of an estate plan. Another reason some people avoid estate planning is because they believe it will be extremely expensive. For estate planning, my firm charges a flat fee which comes out to be less than our normal hourly rate for other services.
What Is A Will? Does A Will Need To Be A Part Of Every Estate Plan?
Everyone needs to have a will, even if they have a living trust. A will allows a person to express their wishes in terms of how they want their assets distributed, and they can also direct how certain things are to happen. A will could be as simple as a handwritten note stating that all of a person’s assets should go to their best friend.
Other items in our estate planning package include a power of attorney, medical power of attorney, HIPPA release form, directive to physician document (aka living will), disposition of remains document, guardian of minor’s forms, and transfer on death deeds. There are several other documents that might be included depending on the facts and circumstances of a particular case.
For more information on Goals Associated With An Estate Plan In TX, an initial consultation is your next best step. Get the information and legal answers you are seeking by calling (512) 829-6100 today.
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