Underwood’s Texas estate planning attorneys focus on protecting what matters most – your loved ones and your assets.

An estate plan includes the assets you own, how you want those assets distributed after you pass away, and your wishes regarding medical care and childcare. Every plan is different and can be tailored to meet your goals and objectives.

Estate planning misconception

A common misconception in estate planning is that individuals need to have a certain amount or value of assets to manage them. However, many assets could make up an estate, including houses, cars, stocks, life insurance, and pensions. Everyone should ensure that their assets are preserved and distributed correctly after death. Estate planning provides your family with clarity about your wishes.

What documents are included in an estate plan?

The documents included in an estate plan vary from person to person. It ranges from making a Last Will and Testament, setting up Trusts, and making charitable donations to naming an executor, choosing beneficiaries, and setting up funeral arrangements.

There are two types of documents that should be included in every estate plan. First, the documents that state your wishes after death, and second, the documents that state your wishes if you were to become incapacitated.

As seen in the chart below, some of the most important estate planning documents include a Last Will and Testament, Trust, Statutory Durable Power of Attorney, Medical Power of Attorney, Directive to Physicians, and a Guardianship Directive.

How can an attorney help you create an estate plan?

An estate planning attorney does more than simply prepare your Last Will and Testament. A knowledgeable and experienced attorney will understand your family situation, financial status, and any wishes or objectives you may have. They will draft all documents necessary to ensure nothing is left unanswered or in question after your passing.

At the Underwood Law Firm, our team of experienced estate planning attorneys can guide you through the process to ensure the State of Texas is not the one carrying out your wishes.