what documents are needed for estate planning

Five Estate Planning Documents Every Texan Needs

When preparing an estate plan in Texas, having the right legal documents in place is essential. These five estate planning documents help protect your assets, ensure your wishes are honored, and reduce stress for your family. What Documents are Needed for Estate Planning Last Will and Testament Statutory Durable Power of Attorney Living Will (Advanced Directive to Physicians) Medical Power of Attorney HIPAA Authorization Last Will and Testament This document outlines how, when, and in what percentages the property will be distributed upon a person’s death. It can also appoint guardians for minor children. Wills may contain trusts, which are called testamentary trusts, to accomplish specific goals of the person writing the will.  A will only becomes legally effective after your death and once it is admitted to probate. It does not provide any authority in the event you become incapacitated during your lifetime, which is why additional planning documents are necessary. Without a will, your estate may be subject to intestate succession, where the probate court determines how assets are distributed according to Texas law.  Statutory Durable Power of Attorney (POA) This power of attorney is a financial power of attorney. This document allows a person (the principal) to appoint another person (the agent) to manage their financial and property matters, even if the principal becomes incapacitated. This is an important document and enables someone to handle affairs like paying bills, managing bank accounts, and selling property, and ensuring continuity if the principal cannot act for themselves. A power of attorney is only effective while the person is alive and dies with the person at the time of death. Living Will (Advanced Directive to Physicians)  This document may be referred to as a living will or as an advanced directive. This document outlines how a person would like to die.  This document addresses a person’s end-of-life care preferences when suffering from a terminal condition or irreversible condition. It lets family and doctors know the wishes in the event that one is unable to make health-care decisions. Medical Power of Attorney  This document appoints someone to make healthcare decisions when one is unable to do so. This document is an essential part of advance care planning, ensuring wishes are followed even if incapacitated. This is a document similar to the Durable Power of Attorney, except it deals with medical decisions instead of financial decisions. It gives decision-making authority to a third person. HIPAA Authorization HIPAA authorization is a document that allows a healthcare provider to share protected health information with a specific individual. Without this document, loved ones may not be able to: Communicate with doctors Access your records Help manage your care Including this form with your important estate planning documents ensures transparency and supports informed decisions. How an Estate Planning Attorney Can Help Working with an experienced Houston estate planning attorney ensures your documents are valid, tailored to your situation, and aligned with Texas law. An attorney can: Explain the legal implications of each document Ensure your beneficiary designations and guardianship preferences are enforceable Help you create a trust that meets your goals Coordinate your estate plan with […]