Do I need a power of attorney?

Bychef December 10, 2020December 10, 2020

I would recommend that everyone obtain both of the powers of attorney described below:

Statutory Durable Power of Attorney
1. A Statutory Durable Power of Attorney allows you to appoint an agent to make financial decisions for you.
2. You can choose to have the Statutory Durable Power of Attorney effective now or after you have become incapacitated.
Medical Power of Attorney
1. A Medical Power of Attorney allows you to appoint an agent to make medical decisions for you in case you become unable to make those decisions for
  yourself.
2. Your agent’s authority begins when your doctor certifies that you lack the capacity to make medical decisions for yourself. Once you are able to make your own medical decisions again, your agent’s authority terminates until it is needed again in the future.

Wills

Why do I need a will?

Bychef October 30, 2020December 10, 2020

Having a will saves time and money, as distributing property pursuant to a will generally takes less time and money than distributing property pursuant to the Texas laws of intestate succession which govern if there is no will. Having a will also gives you the power to make these important decisions: 1. Who will inherit…

Estate Planning

Who should be the executor of my estate?

Bychef December 10, 2020December 10, 2020

Executor’s Duties Keep in mind when choosing an executor that he or she will have the following responsibilities: to execute all documents and attend any hearings necessary to probate the estate (usually with the assistance of a probate attorney); to collect and gather together all of the assets of the estate and, if necessary, to…

Estate Planning

How can I provide for my minor children

Bychef December 10, 2020December 10, 2020

Name a Guardian in Your Will If you have at least one child under the age of 18, you should name a guardian in your will to take care of your children in case both parents die before the child reaches the age of 18. Guardian’s Duties Keep in mind when choosing a guardian that…

Estate Planning

Do I need a living trust?

Bychef December 10, 2020December 10, 2020

Living Trust Basics A living trust is a trust you establish during your lifetime that gives you continued control over the assets you place in the living trust. The main purpose of a living trust is to avoid probate. In order to create the trust, you must give specific trust property to a named trustee…

Estate Planning

Do I need a living will?

Bychef December 10, 2020December 10, 2020

Each individual has to decide whether a living will is right for them or not. In Texas, a Directive to Physicians and Family or Surrogates (also known as a living will) allows you to state that you do not want artificial measures taken that will serve only to prolong your life if you become unconscious…

Wills

Can I prepare my own will?

Bychef December 10, 2020December 10, 2020

There are two reasons I would not recommend that you prepare your own will. The first is that any problem with the language of the will or the way it was executed could cause the eventual probate to be extremely costly and time-consuming. The flat fee charged by most attorneys for wills is minimal compared…

Similar Posts