Residents of Texas are unlikely to want to think about dying, but it is nevertheless important for them to have a plan of action set in place for when they pass on. Estate planning can not only ensure that someone’s wishes are carried out after their death, but it can also make life much easier for their heirs. This is why a person should create a file that holds all of their estate planning documents and name executors to their estate.
For family and friends to carry out someone’s wishes when they pass away, they need to know what they are. Therefore, it is important that estate planning documents are compiled. These documents should consist of a will, living trusts and power of attorney, and let people know where they are. It is also a good idea to keep this paperwork in a safe place so that it will remain intact even in the case of a fire or flood.
Individuals should also be sure to select executors for their estate. This usually is a spouse or child, but the important thing is that someone chooses an individual that they trust. Selecting a secondary executor can also be a good idea because the secondary executor can take over duties if the main executor is unable to.
To ensure that these important estate planning documents are prepared correctly, a person may want to speak with an attorney. An attorney could help the person understand what his or her options are and assist him or her in ensuring that heirs are able to get the most benefit from his or her assets when he or she passes on.
Source: Huffington Post, “9 Ways To Make Things Easier For Your Survivors,” Scott Taylor Smith, April 20, 2013