Boerne, TX Estate Planning Attorney
At What Point Should I Start Estate Planning In Boerne, TX?
Sadly, many people, especially those who are young and without many assets, believe that the need for estate planning does not apply to them. Most people who aren’t wealthy end up under the impression that they don’t have a need for an estate planning attorney or an estate plan. This is just not the truth. People spanning all ages need to put together an estate plan that will fit all their need and all their family’s needs.
Young Adults And Estate Planning
Once you turn 18 and become a legal adult in Boerne, Texas, your parents are no longer permitted to make healthcare or financial decisions on your behalf. It is very important, as soon as you enter adulthood, that you seek out an estate planning attorney and follow his or her directions to begin estate planning, in order to ensure that your decisions will be protected, if you pass away or become incapacitated. The following estate planning documents are important to create at the beginning of adulthood:
- Healthcare Directive: Your healthcare directive is what specifies the healthcare choices that you would make, in case you become incapacitated and cannot voice your own choices.
- Power of Attorney: This is the document that will name a specific person who will be permitted to make decisions for you, if you are not able to make them. There is a healthcare Power of Attorney and there is a financial Power of Attorney, and both should be created at this stage of life.
Estate Planning From 30 To 40
Between the ages of 30 and 40 is when most people will buy their first home and start a family. In order to protect all your assets and all your loved ones, you must visit your Boerne, TX estate planning attorney to create the next set of vital documents for your estate plan:
- Will: Your will is what specifies exactly who will inherit all your assets and possessions, who will be responsible for settling your estate, and who will be allowed to care for your minor children.
- Trust: A trust can be used to transfer ownership of your assets to a trustee, who will be entrusted to manage them for your beneficiaries. Consult your estate planning lawyer in Boerne, TX to choose the best trust for your family.
Estate Planning From 40 To 50
When you turn 40, it becomes important to catch up on any estate planning that you perhaps have not taken the steps to complete yet. This is also a good age to being to talk to your own parents about the state of their estate planning. It may not be easy to face the reality that your parents can’t stay around forever, but it is also so extremely important to fully understand their wishes while they are e still alive to explain them. Make sure they have the proper documents prepared for distributing their assets and protecting their medical decisions. If your parents have not updated or even created their estate plan in Boerne, Texas, refer them to your estate planning attorney.
Estate Planning For 50 And Beyond
By the time you’ve reached the age of 50, your estate planning should be focused on keeping your plans and wishes updated. Any time a life event occurs, like a marriage, divorce, or death, promptly visit your Boerne, Texas estate planning attorney.
Why Do I Need To Hire An Estate Planning Attorney?
Understanding which estate planning options are going to work for your situation can be a rather stressful and complex task. Do not underestimate the value of an experienced estate planning attorney in Boerne, TX to guide you with understanding at each step of your estate planning process. It is always prudent to take as much time as you need to consult with your Boerne, TX estate planning lawyer before you make any binding decisions or changes to your estate plan. This is in order to ensure that you remain fully compliant with all laws in the state of Texas.
Having an estate plan already in place when you pass away is one of the most loving gestures you can possibly make for your loved ones. However, it is not only creating an estate plan that matters but also ensuring that it is done correctly, which can be quite a challenge. An experienced estate planning attorney in Boerne, Texas can present all of your options and aid you in meeting your all goals while fulfilling the needs your loved ones. Whether you seek to revise your will or draft a completely new will along with an entire estate plan, it is always the best idea to contact a seasoned estate planning attorney to get started on your estate planning journey today.