COMMON ESTATE PLANNING TOOLS
When developing estate planning documents, a one-size-fits-all approach does not fit. At the law office of G. Esther Cruz Attorney At Law, we will develop an estate plan that is as unique as your are. Common estate planning tools used include:
Last will and testament — This document allows you to determine where your assets go upon your death and name guardians to care for your minor children in the event you are no longer able to do so.
Trusts — Trusts serve various purposes. You can use revocable and irrevocable trusts to safeguard assets for the next generation, and create special needs trusts to ensure incapacitated family members are cared for. Trusts also allow you to maintain some control over your assets after you are gone.
Durable power of attorney — The day may come where you are unable to manage your finances. Naming an individual to handle your financial responsibilities will help ensure your finances are kept in order. Creating a POA may also avoid the need for guardianship proceedings.
Medical power of attorney — Name a trusted family member or friend to make medical decisions on your behalf in the event an illness or accident leaves you incapacitated and unable to speak for yourself.
Directive to physicians, or a living will — This document allows you to communicate your wishes regarding the use of life support in the event you are terminally ill or have an irreversible medical condition.
Guardianship affidavit — You can name an individual to act as your guardian should you become incapacitated and be in need of a court-appointed guardianship. This minimizes the risk that someone might apply for guardianship solely to meddle in the affairs of an agent who has power of attorney. It also avoids family members arguing over who is best to serve as guardian of the person and the estate. Once a person is under a court guardianship, the power of attorney terminates.
Make It Easy For Your Family
Estate planning is not just for you — it's for your family. When loved ones pass away, families are often overwhelmed with grief. Administering your estate without a well-executed estate plan places families under additional strain.
Our lawyer will make it easy for your family. Not only will we create an estate plan, we also will organize all of your financial, real estate and legal documents.
As part of our estate planning services we create a binder containing deeds to your property, information about your life insurance policies, investments and retirement accounts, your powers of attorney, will, trusts, and other legal documents. If you become ill, incapacitated or pass away, your family will have all of the information they need to move forward.
Get Started Today
Estate planning is an intimate process and taking the first step is the hardest part. Contact our office today to get started. Call 210-400-5204. Se habla Español.
G. Esther Cruz Attorney At Law
San Antonio, TX 78230