Seguin Estate Planning Law Blog

When creating an estate plan, some Texas residents may think of only the big documents. They know that they need a will and that trusts could be useful. They may also want to include information for incapacitation, such as power of attorney documents and health care directives. However, it may also be wise to consider some less formal documents when estate planning.

One document that some parties may want to consider is a letter of instruction. This document does not necessarily hold any legal weight or need to be created in accordance with any laws. As a result, individuals who want to leave a letter of instruction in their estate plan can approach it any way they wish. Some may find brevity to suit their needs, and others may wish to give specific details and additional information that they want their loved ones to know.

Getting older affects each person differently than the next. Some Texas residents may be able to maintain their good health well into their elder years, and others may experience mental or physical health issues. Because it is not easy to predict which will be the case for any one person, creating an advance medical directive as part of an estate plan is wise.

This document can allow interested individuals to address important areas of their care. Typically, this document goes into effect when someone cannot make important health care decisions for him or herself. The document can name a person to act as the agent in charge of making important decisions on behalf of the incapacitated person. Because most people do not want just anyone to have that power, planning ahead can help prevent unwanted appointments.

Creating a will is an important part of any estate plan. However, the type of will that a person uses can depend on a number of factors. For example, a simple will may work for one person, but another individual may need a joint will or could possibly even use a holographic or oral will.

Simple wills are commonly used and can help Texas residents indicate who they want to handle their final affairs, who they want to act as guardians of their children and who should receive their final assets. On the other hand, some married couples may choose to create a joint will so that their shared estate is addressed in one document. This can be useful in ensuring that the surviving spouse receives the entirety of the remaining estate.

There are many options for creating an estate plan. However, some people may feel overwhelmed by the many choices and not know whether they need to utilize them. Because each Texas resident's plan is different, the exact documents needed will differ. However, certain estate planning tools can benefit most everyone.

First, individuals may want to consider their wills. A last will and testament can include ways in which individuals want their property distributed, who they want to be their executor and who they want to care for their children if they are still minors. As a result, a will is a good place to start the planning process. However, individuals may want to include another type of will: a living will. This document is an advanced health directive that can give instructions on how to handle end-of-life care, particularly if a person is unable to express those wishes due to incapacitation.