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What are the most critical documents to use in estate planning?

Why does there have to be so much involved with the estate planning process? Why can't there be one single document that fulfills all of a person's needs? These are two questions that estate planning lawyers hear quite frequently.

In some situations, a single document may indeed suffice. For example, an ordinary will can meet a person's needs if his or her life is simple and without complicated properties and liabilities. However, to ensure that your assets your end-of-life wishes remain protected, you may need more than just a will.

To achieve the best results, consider scheduling a consultation with a lawyer experienced in estate planning for Texas citizens. Together, you can create a plan that will protect you and your property now and after you pass away. If you would like to prepare for an attorney meeting ahead of time, review the following list of essential estate planning documents.

Will and/or trust: These cornerstones of effective estate planning give you the power to decide how your heirs or your estate executor manages your property.

Power of attorney: If you should become incapacitated and unable to make decisions, a power of attorney gives the person of your choice the authorization to make financial decisions on your behalf.

Guardianship designations: When minor children or elderly relatives are part of your family, creating a form that designates guardianship will make sure your dependents receive the proper care.

Healthcare directive: Like a power of attorney, a healthcare directive enables a person you trust to make medical decisions for you if you cannot do so on your own.

By learning about these critical legal documents, you will be well-prepared to help your attorney create an estate plan that meets your immediate and future needs.

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