Because an estate plan in Texas and elsewhere consists of a variety of “legal instruments” that must pass muster under state law, it’s best to give up any thoughts of doing them yourself. Consider working with professionals to get your estate planning done as a classic ‘team effort’ geared toward accuracy and legal compliance. It’s true that estate planning also seeks to maximize the value of the estate’s assets, and to minimize tax drains, and these efforts are included in the process.
The power of attorney is usually an indispensable tool in the arsenal of estate planning documents. This is a document in which a person, the principal, confers a certain authority in a second person, an agent, for the agent to sign the principal’s name and to do basic acts of business and conduct affairs on behalf of the principal. The power of attorney can authorize a wide range of actions, and it should be drawn up to carefully designate which powers are being conferred.