While many people assume that they do not have an estate so they do not need to create an estate plan, in the majority of cases, this is not true. Estate Planning goes well beyond assigning the decedent’s belongings to his or her desired recipients.
Other considerations include:
Physician Directives – addresses your wishes in reference to life-sustaining medical treatments.
Medical Power of Attorney (POA) – if you become incapacitated, you can include a medical POA to grant someone else the ability to make your medical decisions for you. This is extremely important if you do not want your family making decisions related to your medical care.
Guardian Designations – you can choose who will care for your children and/or an adult with special needs.
HIPAA Release Forms – whomever you designate to have medical POA also needs to be able to access your medical records.
Special Purpose Trusts – these trusts may include: Irrevocable Life Insurance Trusts, Intentionally Defective Grantor Trusts and Grantor Retained Annuity Trusts.
As you can see, there is much more to estate planning than you may have originally thought. At The Curry Law Firm, we can help you create your estate plan so you will not have to worry about any of these issues. Contact our office today at 713-443-7496 to schedule an initial consultation.