Planning for the future is a critical step for Texas adults of all ages and income levels, regardless of their health or the size of their estates. While every estate plan will be unique, there are certain elements that should be considered as critical aspects of any complete strategy. The ultimate goal of estate planning is maintaining control over certain aspects of one’s legal and financial matters in the future, even after death.
Important considerations for a plan
There is no one-size-fits-all solution for estate planning. What one will need for a complete plan that provides the most appropriate amount of protection and security depends on his or her individual objectives, finances and goals for the future. However, any complete plan will likely include the following elements:
- A will
- Power of attorney for health care
- Living will
- Durable power of attorney
The intent of creating a complete estate plan is allowing an individual the opportunity to have the final say over certain important aspects of his or her future. It also allows one to create a legacy for loved ones, have control over health care decisions and more.
The ideal plan
An assessment of one’s specific situation will reveal what estate planning options are ideal for his or her needs. Through a variety of estate planning tools and appropriate guidance from an experienced Texas attorney can result in a plan that provides a sense of security for years to come. The future is unpredictable, and there is no time like the present to create a complete plan.