${site.data.firmName}${SEMFirmNameAlt} - CPAs and  Attorneys

Free Initial Consultation | Se Habla Español

800-569-2663

Bedford (Fort Worth) 817-545-3425 toll free 800-569-2663

Austin 800-569-2663 Addison (Dallas) 972-685-5202

Estate Planning Professionals Providing Peace of MindCPAs and Attorneys

Crucial estate planning documents for Texas grantors to include

Regardless of how many assets a person has, there should be a set of instructions in place for surviving family members in the event of an individual's death. Estate planning sets out a road map of a Texas estate owner's wishes while designating appropriate beneficiaries. There are essential documents to be included in estate plans.

One of the most essential documents to be included in an estate plan is a Durable Power of Attorney. A person who is given power of attorney has permission to make financial and legal decisions on a grantor's behalf in case of impairment. It's important for individuals to choose someone who is trustworthy and loyal. In addition, it is beneficial to choose someone to act as a backup just in case. Another power of attorney that is just as important is a medical power of attorney.

This gives someone authority to make medical decisions on a grantor's behalf, particularly during medical crisis. Another essential document to include in an estate plan is a will. A will lays out how a grantor wants his or her wishes to be carried out. A will also names guardians and eliminates the need for the state to decide on how assets should be distributed. In any case, it is vital to have an executor who will be responsible for the estate.

Proper estate planning can offer estate owners and beneficiaries a peace of mind. Without a will, the state is left to decide how assets are distributed and to whom. While having these important documents may be crucial, learning the proper procedures can help Texas estate owners streamline the process.

Source: The Wall Street Journal, "Four Estate Planning Documents Everyone Should Have", Tom Lauricella, April 20, 2014

No Comments

Leave a comment
Comment Information

Our Office Locations

The Livens Law Firm
2516 Harwood Road
Bedford (Fort Worth), TX 76021
Phone: 817-545-3425
Toll Free: 800-569-2663
Fax: 817-545-9847
Map and Directions

Austin Office
3 Lakeway Centre Court
Suite 120
Austin, TX 78734
Phone: 800-569-2663
Fax: 888-545-9847
Map and Directions

Addison Office
14135 Midway Rd.
Suite G-250
Addison, TX 75001
Phone: 972-685-5202
Fax: 972-685-5206
Map and Directions

Free Initial Consultation | Se Habla Español

Member Wealth Counsel Elder Counsel Your success our commitment Excellence in elder law and  special needs Member NAELA National Academy of elder law Attorneys Inc. Member ASNP Academy of special needs planners members