Some in Texas know that there are many options available to those who wish to plan for their eventual death. These options include the common tools such as a will or trust. Each of these estate planning tools has benefits that can be helpful to a person.
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Readers in Texas have heard many times that estate planning is important. It is well known that by creating a plan that is complete and reviewed periodically, issues such as uncertainty or battles over assets are less likely to occur after a person dies. What many are not aware of is that celebrities also have estate planning concerns, just like those of us without fame and fortune.
Readers in Texas know well that a will or trust is often included when a person decides to plan for the distribution of their estate. What they may not consider in estate planning is the additional documents and storage questions that can arise. One new article offers suggestions to ensure that a complete and detailed plan for the end of life can be created.
People in Texas enter into the estate planning process to achieve many different goals. These include the desire to fund any future needs for long-term care and to ensure that their assets are distributed according to their wishes at the time of their death. The good news is that there are estate planning tools available to achieve each of these goals and more.
People in Texas are used to hearing about families, both fictional and real, with large and valuable estates. In fact, one of the most popular television shows of the 1980s portrayed the lives of a local family. Now another family is making ratings, the Crawleys, fictional stars of series Downton Abbey. In fact, one authority suggests that estate planning lessons can be learned from the show.
Estate planning in Texas often means a review of all assets and liabilities of an estate. As the estate planning process continues, individuals work to create documents that reflect their wishes as to the distribution of their estate at the time of their death. In addition, many people create documents, such as a power of attorney, that appoint individuals to care for them when they cannot.
Many people in Texas and across the nation have spent a lifetime collecting and acquiring personal property. When they die, if there are no estate planning documents in place to determine how the property will be distributed, it is left to heirs of an estate to dispose of the goods. When this is the case, heirs often turn to donations or tag sales to clear out personal items.
A recent study completed by a large organization may be of interest to readers in Texas. Researchers polled more than 2,516 adults to find out how well-prepared they were for a potential medical illness that would leave them unable to care for themselves. The results concluded, among other things, that women may be less likely than their male counterparts to plan for long-term care in their estate planning efforts.
People in Texas may be surprised to learn how quickly their estate can add up to the $1 million estate tax exemption that may kick back into gear at the beginning of 2013. Adding the family home, investments, life insurance and other assets can take many individuals in our state to the $1 million mark and beyond. This is one reason that estate planning can benefit many, if not most, individuals.