Estate planning is a very broad term in Los Fresnos, Texas, referring to a person's arrangements on issues that affect them and their family toward the end of their life. These might include instructions for end-of-life care, as well as drafting a will or other document with the intent of disposing of one's property after their death.
The creation of a will (the document laying out what is to be done with your property after your death) is an essential element of an estate plan, but it is typically not the only element. There are many other necessary things that most estate plans should include.
In addition to a well-drafted will, a comprehensive estate plan should include things like a living will (healthcare directives made in advance, in case you become incapacitated and unable to make or express such decisions), funeral instructions, and instructions relating to organ donations.
For anyone who has children who are still minors, it is very important to make arrangements for their custody and care, just in case the unthinkable happens. You should think of a family member or very close friend who you know would be willing and able to take care of your children, and designate them as the person who would take custody. Of course, it's necessary to discuss this matter with that person before you truly do it.
What Type of Estate Plan Do I Need in Los Fresnos, Texas?
This typically depends on your individual goals and priorities, your age, health, and the nature and quantity of your assets.
For example, if you are in your 20's and unmarried, an estate plan probably does not need to be on your priorities, unless you are very ill, or independently wealthy.
If you're not married in Los Fresnos, Texas, but have a life partner, estate planning is imperative. If you want your partner to be treated as your spouse, your estate plan should make arrangements to give him or her power of attorney in the event that you become incapacitated. Additionally, your will should clearly name your partner as a beneficiary, if you want them to inherit any of your assets.
Individuals who are elderly and/or have a considerable amount of money in Los Fresnos, Texas are probably more in need of an estate plan than almost anyone else. Most people place a lot of value in the peace of mind that comes when they know that the people they love, or the causes they care about, will be taken care of after their death. Of course, nobody likes to confront the facts that this process always includes, but it's necessary.
Do I Need a Los Fresnos, Texas Estate Planning Attorney?
Because estate planning in Los Fresnos, Texas is not always simple, the assistance of a knowledgeable attorney will almost certainly be useful, and worth the cost. This is doubly true because of how important the issues involved can be, and the fact that a relatively minor mistake can sometimes derail an entire estate plan.