Many Texas residents may struggle with making plans for tomorrow let alone for the end of their lives. As a result, they may put off estate planning because they do not feel equipped to tackle such an endeavor or may even believe that they do not need a plan. However, there are many reasons that an estate plan can be useful for individuals and their families.
First, any parent of minor children can benefit from having an estate plan. A will is the legal document in which parents can indicate who they want to act as the guardian of their minor children in the event of death or incapacity of the parents. Even if parents are young, having this safeguard in place can be useful because accidents can happen at any time, and they certainly do not want to leave the care of their children up to chance.
Of course, some people may be thinking that they do not need to create a plan because they do not have kids. However, pet parents can also benefit from creating an estate plan. It is not unusual for pets to end up in shelters after an owner’s passing because no one wants to or can care for the animals. If a person sets up a pet trust, he or she may be able to ensure that a beloved pet is cared for and does not end up in such a heart-wrenching situation.
Estate planning often has more benefits than many people realize. Texas residents can make arrangements for numerous areas of their lives and account for the needs of their loved ones (whether human or pet). Interested parties may want to reach out to knowledgeable attorneys who can provide more information on the uses and benefits of these plans.