I take the time to review your documents with you so that you know everything that you are signing. I believe that it is very important that you know every clause that is in your will and every meaning of power of attorney. You can convey your goals to me, and then I can put them down on paper so that you can understand what you have agreed to. My firm provides personalized services, and it is not a hands-off approach. I work alongside my clients and keeping them involved in the process so that they understand all that is included in their estate plan creation. I take the time to personalize the service.
How Do I Plan For Possible Incapacity During My Lifetime? What Estate Planning Documents Are Necessary To Do So Under Texas Laws?
Being smart and planning for incapacity, is a loving act that you do for your family members and also for yourself. If you complete the documents necessary, you will have more control over what happens if you are ever incapacitated. The documents that will help you plan for incapacitation are a medical power of attorney, living will or physician’s directive, and designation of guardianship. You can also set up a trust and have a trustee. This documentation gives your loved ones the knowledge to meet your wishes, in the event that you become incapacitated. They also allow your loved ones to handle your financial affairs and medical care.
The courts are loath to order guardianships for individuals unless they are absolutely necessary. They do encourage incapacity planning. You can even do such things as supportive decision-making agreements to help facilitate decisions for your loved one, avoiding guardianship. One of the main benefits is that you do not lose your rights as an individual, whereas that could possibly be the case with guardianship to some extent.
What Is A Special Needs Trust And Who Is This Intended For?
A special needs trust is a specially drafted trust that comports with federal and state law for the purposes of protecting an individual who has a developmental disability or recognized developmental disability. It protects that person from losing any government benefits they already have because of special drafting of the trust. It is another form of incapacity planning.
Generally speaking, you see that happen with parents who are setting up the special needs trust for their loved one. Every one of my wills has a contingent trust in it, a testamentary trust in it, that is drafted to accommodate an individual who may inherit, who has an incapacity or is developmentally disabled and receiving some form of government benefits, which an inheritance would hurt that benefit or impact that benefit.
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