Estate planning is a very broad term in Lucas, Texas, referring to a person's choices 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 normally not the only element. There are many other essential 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 essential to discuss this matter with that person before you really do it.
What Type of Estate Plan Do I Need in Lucas, Texas?
This normally depends on your individual goals and priorities, your age, health, and the nature and quantity of your assets.
If you are in good health, young, and not married, planning an estate is probably not a high priority. And at this point in your life, it doesn't really have to be, with a few possible exceptions, such as individuals who work in very dangerous jobs, or who are very wealthy.
If you are unmarried, but have a life partner in Lucas, Texas, estate planning is crucial, if you wish for your life partner to be treated as if he or she were your spouse (to the extent possible). In such a situation, the estate plan should make arrangements to give your life partner power of attorney in case you become incapacitated. Your will should also clearly include your partner (if you wish for them to inherit any of your assets).
If you are very old, and have a substantial estate in Lucas, Texas, you should definitely come up with an estate plan if you haven't already. Admittedly, this contains confronting some unpleasant and morbid subjects, but it is still very important. Estate planning is essential if you care at all what happens to your property, and, more importantly, your loved ones, after you die.
Do I Need a Lucas, Texas Estate Planning Attorney?
In Lucas, Texas, estate planning is rarely simple, even if it's not the most convoluted thing in the world. Given the importance of what's at stake (the financial security of your loved ones), a good estate plan is essential, as is the help of an attorney who specializes in wills, trusts, and estates law.