Last Will & Testament with a Contingent Trust
A will is a legal document that sets forth your wishes regarding the distribution of your property. A contingent trust (also known as a testamentary trust) is a trust created in your will that goes into effect only (1) after your death, and (2) under circumstances specified in your will. A contingent trust is frequently used to appoint a trustee to manage and distribute assets used for the comfort, care, and education of minor children or grandchildren until those beneficiaries have attained a specified age. Because it is will-based, a contingent trust does not avoid probate, and will not supersede beneficiary designations on your financial accounts, retirement assets, or life insurance.
Texas Durable Power of Attorney
A durable power of attorney gives you the power to appoint a trusted family member or friend as an agent to manage your finances if you are no longer capable of managing them yourself, such as if you become temporarily or permanently incapacitated. If you become incapacitated and do not have a statutory durable power of attorney in place, a court-ordered guardianship may be necessary. Guardianship is time-consuming and expensive, and can be avoided by creating a power of attorney.A durable power of attorney gives you the power to appoint a trusted family member or friend as an agent to manage your finances if you are no longer capable of managing them yourself, such as if you become temporarily or permanently incapacitated. If you become incapacitated and do not have a statutory durable power of attorney in place, a court-ordered guardianship may be necessary. Guardianship is time-consuming and expensive, and can be avoided by creating a power of attorney.
Texas Medical Power of Attorney
A medical power of attorney allows you to designate a trusted family member or friend to make medical decisions for you in the event you become unconscious or mentally incapable of making those decisions for yourself. Unexpected injuries or illness can occur at any age, so all adults should have one in place.
Texas Directive to Physicians (Living Will)
A directive to physicians allows you to instruct your physicians not to use artificial methods to extend your life in the event you are diagnosed with a terminal or irreversible condition.
Declaration of Guardian in the Event of Later Incapacity or Need of Guardian
This document designates who you want to be your guardian for your estate and person if you later become incapacitated. You may also disqualify certain people who MAY NOT serve as either the guardian or the person or estate.
Declaration of Guardian for my Children in the Event of My Death or Incapacity
(If you have minor children or special needs children)
If there is ever a need for your children to have a guardian, the court will use the “best interest of the child” to determine whom your children should live with if you do not appoint a guardian.
HIPAA Authorization
A HIPAA authorization allows you to name an individual who can have access to your medical information so that your health care provider or insurance company have no reservations about sharing medical information with those whom you have authorized.
Appointment of Agent to Control Disposition of Remains
Texas requires that the agent be appointed in a written document. When an agent is not appointed, family generally controls the remains.