The disposition of assets is a major part of estate planning, but it is not the only part. Another important part of estate planning has to do with how health care decisions are to be made if the person doing the estate planning becomes incapacitated. There are a number of instruments available for Texans who have feelings on how health care decisions should be made if they lose the capacity to make their own decisions. This blog post will discuss one of these instruments, the medical power of attorney.
March 2019 Archives
What is the difference between heirs and beneficiaries?
Though the terms heirs and beneficiaries are often used interchangeably, many Pennsylvania residents may not be aware that they have different legal meanings and implications. Understanding the difference between the two can help people understand their status is one's estate plan.
A valid will in one state might be invalid in another
When creating a will, many people do not realize what might be valid in one state might not be valid in another. Understanding the different types of wills one can create gives individuals different options for distributing their wealth and assets while also ensuring one's will is enforceable wherever they live.
Creating a trust is advantageous for trustors and beneficiaries
As mentioned previously in this blog, there are many estate-planning options available to those who wish to ensure their legacy is preserved after they are no longer alive. However, the process may seem overwhelming initially for those beginning it, as they struggle to figure out which arrangements will work out for them. One option is to create a trust.
Are you hesitating creating a special needs trust for your child?
The first few years after learning of your child's special needs were probably ones of frustration and adjustment. Whether your child's disability occurred after an accident or at birth, you dedicated your life to his or her care, educating yourself about your child's unique situation, and making any sacrifices necessary for his or her well-being.
