Your Estate Plan

Your Estate Plan includes a Will, Medical Power of Attorney, Statutory Durable Power of Attorney (for financial decisions), Declaration of Guardian for Minor Child, Advance Directive to Physicians, and other documents that your individual situation may require. 

 Your Last Will and Testament is the heart of your estate plan.  Your Will is how you use to transfer your assets upon your death.  With a Will, you can leave your assets to any individuals or organizations that you choose. 

If you die without a Will the State of Texas will determine the disposition of your assets, according to the laws of intestate succession.   This might not be according to what you would have desired. 

A Will allows you to be in control of what happens to the assets you acquired during your life. 

A Medical Power of Attorney is used, by someone you trust, when medical decisions need to be made but you cannot do so for yourself.  You may be unconscious, heavily medicated, in a coma, etc. -- in this situation, the person you appoint as your agent will be able to make medical decisions on your behalf. 

A Statutory Durable Power of Attorney works similarly to a Medical Power of Attorney, only it is for your Financial decisions.  If you become unable to manage your financial transactions, the person you appoint in your Statutory Durable Power of Attorney will be able to do financial transactions for you. This document can take effect either when you become incapacitated or when you sign it if that is your desire. 

A Declaration of Guardian for Minor Child is a necessary document if you have a child or children under age 18.  Without this document a judge would determine who is the guardian of your children, however by declaring who you want to be their guardian you have control over who would raise your children if you are no longer able. One benefit of all of these documents is being able to select alternate candidates if the person you pick is unwilling or unable to serve.  

An Advance Directive to Physicians is one of the most important things you can do for your family.  This document tells your physician whether you want to be kept alive using all available measures or whether you want to be allowed to die naturally and with dignity, without using extreme measures. This goes into effect if you are in a coma or unable to communicate and you are suffering from a terminal illness or injury and are likely to die within six months. I can tell you from the personal experience of my dad passing after heart surgery that this would be a hard decision for a family to make without knowing a loved one’s wishes. There was great comfort in knowing he had already contemplated and made this decision for himself.   

A well-crafted Estate Plan can reduce or eliminate the need for probating your estate after you pass away.  

Contact Me to Discuss Your Estate Plan

817-287-8617 michael.doyle.law@gmail.com