Fort Worth, TX Estate Planning Attorney
Am I Old Enough To Start Estate Planning In Fort Worth, TX?
All adults need an estate plan, no matter their age. In fact, the sooner you start this vital planning, the better. Waiting too long to start estate planning can have devastating consequences for you and your family, especially if you wind up in need of long-term care. Estate planning is not just for those who are old or those who have many assets. You need an estate plan, regardless of your age or socioeconomic status. You also need an estate planning attorney.
Do I Really Need An Estate Plan Before I Turn 30?
In Fort Worth, Texas, you are legally an adult as soon as you turn 18 years of age. You are now responsible for your own healthcare and financial decisions. Your parents no longer have any legal right to make this decision for you. You are now responsible for finding an estate-planning attorney and making a plan for what would happen if you were to pass away or become incapacitated. These are not pleasant scenarios to think about, but if one of them were to take place, you want to know that your decisions and your loved ones are protected. This can be accomplished by drafting two essential beginning estate planning documents.
The first document in your estate planning toolkit is your healthcare directive. In a healthcare emergency, you want to make sure that your family and your doctors know exactly what you would want. Your healthcare directive will tell them. If you continue to be unable to make your own decisions, someone will need to step in and make those choices for you. A power of attorney will allow you to name someone ahead of time to be permitted to make your healthcare and/or financial decision while you are unable to.
How Do I Start Estate Planning In My 30s?
The decade between the age of 30 and the age of 40 is considered prime adulthood for most people. If you are going to get married, buy a home, and have children, you will most likely achieve these milestones during this time period. Do not overlook the importance of hiring a Fort Worth, TX estate planning attorney to ensure that everything you’re working for is protected if something happens to you. In addition to a healthcare directive and powers of attorney, you should add your will and trust to your estate plan.
Most people are familiar with the idea of a will. It is the key document when someone dies, which dictates how their assets will be distributed amongst their heirs. A trust is a similar, but more sophisticated, way to transfer your assets after your death. The trust will transfer all your assets to a trustee of your choice for management and distribution. Trusts are complicated and require the assistance of an estate planning lawyer in Fort Worth, TX.
I’m Already Over 40. Should I Wait Until Retirement To Start Estate Planning?
By the age of 40, you have been through enough life changes to understand why estate planning is important. If you do not have a will, trust, powers of attorney, and a healthcare directive in place, it is time to create them immediately. It is not too late but don’t hesitate to contact an estate planning attorney in Fort Worth, TX. As you approach your retirement years, your estate plan only requires occasional revisiting make sure it remains updated. Check-in with your Fort Worth, Texas estate planning attorney every few years.
Is An Estate Planning Attorney Necessary For A Basic Estate Plan?
Estate planning is a complex area of the law. There is no doubt that you need the expertise of an estate planning attorney in Fort Worth, TX to ensure that your estate planning documents comply with all state and federal laws. Putting a thoughtful, effective estate plan in place for the unfortunate event that you pass away or become incapacitated is an incredible act of love from you to your surviving friends and family members.
In order to leave your loved ones the gift of comfort, you need to do more than just create an estate plan. You also need to put in the time and the effort with your attorney to make absolute sure that every facet of it is legally sound. This can be very difficult in certain situations. An experienced and competent estate planning attorney in Fort Worth, Texas is waiting to help you to meet all your estate planning goals and take care of your family. If you need to check up on your current estate planning documents or you haven’t yet created any, you will not regret contacting a qualified estate planning attorney to help you properly plan for the future.