Five Estate Planning Documents Every Adult in Texas Needs
- A Texas Last Will and Testament determines how your property is to be distributed and to whom you want to receive it. A Will can also be used to create a Trust and name an executor and trustee. In addition, it is used to appoint a guardian to care for your minor children. Without a Will, your assets will be distributed according to a statutory formula, which may conflict with how you would have liked for your assets to be distributed. If you do not appoint a guardian for your minor children, a judge who doesn’t know you or your family may have to make that decision for you.
- Texas Durable Power of Attorney: allows you to appoint a trusted family member or friend as an agent to manage your finances if you are no longer capable of managing them yourself due to temporarily or permanently incapacitated.
- Texas Medical Power of Attorney: allows you to appoint an agent to make medical decisions for you in the event you become unconscious or mentally incapable of making those decisions for yourself.
- HIPAA Authorization: allows you to name an individual who can have access to your medical information so that doctor or health insurance company have no reservations about sharing your protected medical information with them.
- Texas Directive to Physicians: allows you to direct your physicians as to how you want your physicians to use artificial methods to extend your life in the event you are diagnosed with a terminal or irreversible condition.