Estate Planning: More Than Just Wills and Trusts

In terms of estate planning, peoples’ thoughts may include documents such as wills and trusts. It is important to remember that there is more to estate planning than what may or may not occur upon a person’s death. There are legal documents, such as durable and healthcare power of attorneys, which can make caring for a person at the end of life easier. As the country’s population ages, more and more people reach a point where the possibility to live independently and handle affairs without assistance becomes overwhelming.

Entrust Your Finances with a Durable Power of Attorney

Documents such as healthcare power of attorney, living will and a durable power of attorney can provide the necessary instructions to loved ones for late-age assistance. A durable power of attorney can be as broad or limited as desired. This document grants others the ability to conduct the person’s financial affairs if he/she becomes unable to do so themselves. This includes bill payments, filing tax returns and sales of assets if needed.

Entrust Your Medical Decisions with a Healthcare Power of Attorney

A healthcare power of attorney and living will can work hand-in-hand if a person becomes incapacitated. A living will highlights a person’s preferences if medical personnel certify him/her as being near death. These preferences include withholding certain lifesaving measures under certain circumstances. A healthcare power of attorney allows an appointed person to make healthcare decisions on behalf of an incapacitated person. These documents can help ensure a person’s wishes are respected when used together.

No Harm in Being Prepared

As people age, it is safe to consider what may become if they are unable to care for themselves. Looking beyond wills and trusts when it comes to estate planning can help an individual create a much more comprehensive plan. It may not be pleasant to think about losing independence or becoming incapacitated, but there is no harm in being prepared.

Contact Us

If you’d like to get your estate planning process started, contact the probate attorneys of McAllen’s Barrera, Sanchez & Associates, P.C. at (956) 287-7555.

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