Legal (Maintaining Control of Your Estate)

Legal documents are the cornerstone of any planning that you do.    Some people don’t feel they need to do “estate planning” because they do not have substantial property or assets or have shared access to accounts with a spouse or adult child.   Assuming that your affairs are in order because everything is owned jointly with your heirs can be a costly mistake.    It is critical that you designate legal agents to act in your behalf in the event of your incapacity and ensure proper distribution of your property and assets both before and after you die.

Although many people are drawn to the simplicity of Internet forms for their legal documents, we strongly recommend that you have your documents prepared (or at least reviewed) by a legal professional.  Legal documents that are not prepared properly could be contested in court, and may cause additional problems for your appointed agents, and heirs. 

These are some examples of typical estate planning documents:
• A will or trust
• Durable power of attorney
• Durable power of attorney for health 
• Living will / directive to physicians
• Declaration of Guardianship

Depending on your individual estate - tax and financial planning needs, there may be more complex legal documents necessary to protect your estate and heirs.  That is another reason it is critical to consult with a legal professional who specializes in Estate Planning.  Ideally he will work with your insurance, tax, and financial professionals to ensure that everything fits together properly to accomplish your goals.

Texas Assurance Care, Inc.  is a member of Society of Certified Senior Advisors, American Society on Aging, National Association of Fixed Annuities, and participates in the National Medicare Partnership Training program.

Although we coordinate with several attorneys, Texas Assurance Care Inc. is not a law firm.  This is not legal advice and is intended for informational purposes only.  You should consult a legal professional for legal planning related to your individual situation.