Make plans to protect your loved ones.
Step 1 – Create a will
Having a simple will is essential to most everyone: do you own property? Are you married? Do you have children? Did you, or your spouse, inherit your home?
A will greatly simplifies things for your loved ones. It will also save them time and money when getting your affairs in order after you die.
If you die without a will, your loved ones will be required to establish their heirship, (Yes! Even your spouse and your children) which is a considerable expense. Once heirship is established your estate will pass to your heirs as defined in the Texas Estate Code. The state determines who receives your assets, not you.
Step 2- Get powers of attorney
If you are incapacitated, someone will need to pay your bills and perhaps make medical decisions for you. Avoidance and procrastination make a difficult situation harder.
If you become incapacitated without powers of attorney, your loved ones will be required to file an application for guardianship which is extremely expensive and time consuming.
Why don’t you take some practical steps to demonstrate your care for your loved ones?
It might be one of the most meaningful things you could do for them.