Planning for our own potential disability or eventual death is not something most of us like to think about. However, an estate plan helps protect your interests should you be injured in an accident, or suffer a debilitating disease that leaves you unable to communicate with your medical team, or your loved ones.
While many people in Wise, Jack, Montague, Denton, and Tarrant County may need only a simple will to make sure their estate is distributed in accordance with their wishes, they may also need to have powers of attorney to ensure someone can manage their affairs in the event of their disability. General powers of attorney give you the peace of mind of knowing your financial affairs will be managed, while medical powers of attorney and health care directives provide for your medical care while making sure your wishes for end of life care are addressed.
Those who have more complex estates may prefer a trust be set up to address the distribution of their assets. Trusts are more commonly used when someone has a large estate or when they prefer their finances not be disclosed publicly.
Whether you are single, married, or a single parent with children estate planning is a necessity. Regardless of how modest an estate you have, ensuring your children are cared for, your property is distributed in accordance with your wishes, and planning for your own future care should you be unable to do so for yourself is a necessity.
Contact the Decatur, Texas estate planning attorney at Mary Lois Spain-Sipes, Attorney at Law, for help with all your North Texas estate planning needs.