Monthly Archives: July 2024

As cryptocurrencies like Bitcoin and Ethereum become more integral to financial portfolios, it’s essential to incorporate them into your estate planning. Properly planning for the transfer of these digital assets ensures they are passed on smoothly and securely. Here’s how you can include cryptocurrency in your estate planning with Texan Wills and Trusts. 1. Understand […]

Estate planning isn’t just for the elderly. Young families need it too. Here’s why and how Texan Wills and Trusts can help. Protect Your Children’s Future Your children depend on you. If something happens to you, who will care for them? Estate planning allows you to designate guardians. This ensures your children will be with […]

Beneficiary designations on financial accounts, while convenient and often used as part of estate planning, can sometimes lead to unintended outcomes. Here’s an explanation of these potential pitfalls and how estate planning documents like wills and trusts can provide more comprehensive and controlled solutions.

A Texas Declaration of Guardian in the Event of Later Incapacitation or Need is a legal document that allows an individual (the declarant) to designate who they want to serve as their guardian in the event they become incapacitated and are unable to manage their personal or financial affairs. This document helps ensure that the declarant’s preferences are known and considered by the court when appointing a guardian.

A Texas Directive to Physicians and Family or Surrogates, commonly known as a “Living Will,” is a legal document that allows an individual (the principal) to outline their preferences regarding medical treatment in situations where they are terminally ill or irreversibly incapacitated and unable to communicate their wishes. This document helps guide healthcare providers, family members, and other surrogates in making decisions that align with the principal’s values and desires regarding end-of-life care.

The purpose of a Texas Medical Power of Attorney and HIPAA Authorization is to ensure that an individual’s medical care and information are managed according to their wishes and with their consent, especially in situations where they are unable to make decisions for themselves. Here’s a detailed look at each document:

A Texas Statutory Durable Power of Attorney allows a designated agent to manage the principal’s financial and legal affairs, remaining effective if the principal becomes incapacitated. It provides broad or limited powers, requires a statutory form, and can be revoked anytime by a competent principal. It’s crucial for seamless management of affairs.

Residents of Texas should use Texas-specific estate planning documents to ensure compliance with state laws. Key trust provisions protect homesteads under Section 41.0021 and qualify for tax exemptions under Section 11.13(j)(3). Wills must include the Texas self-proving affidavit to avoid probate issues. Generic documents can lead to legal and financial complications.

A Last Will and Testament is a document outlining how to manage and distribute your assets after death. The Testator creates the Will, and the Executor ensures its execution by filing a probate application. Once validated by a Judge, the Executor distributes the assets to the Beneficiaries as specified. A Trust serves a similar purpose, but does not require court validation through the probate process.