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Frequently Asked Questions
Why do I need a Will?
Having a valid will allows you to leave your property at your death to whomever you want and in any manner you prefer (outright or in trust), reduces the cost of passing property to loved ones at death, and streamlines the court process. This is especially important when minor children are involved. Without a valid will, the State of Texas determines who will receive your property, and if you have a minor child, the court will supervise the child’s money until the child is eighteen. By having a will, you can control where your assets go at your death, and by leaving property to minor children in trust in your will, your children can avoid judicial oversight, thus preserving assets for your family.
Why do I need a financial power of attorney?
Why do I need a financial power of attorney?
Why do I need a medical power of attorney?
Designating a medical power of attorney will allow someone chosen by you to make medical decisions for you in the event that you are incapacitated. Not having this document can greatly hinder your loved ones from being able to make medical decisions on your behalf should you become unable to make your wishes known to your physician.
Who should I appoint with my financial and medical powers of attorney?
It is important to appoint someone you trust to make financial and medical decisions for you in the event of your incapacitation. Typically this person is a spouse or trusted family member or friend.
What is a Directive to Physicians?
A Directive to Physicians is also known as a “Living Will.” This document will allow you to make your wishes known to your physicians and family members regarding life support in the event that you are incapacitated.
Who should I appoint as guardian for my minor child(ren)?
There are many things to consider when choosing a guardian for your children, and each family’s situation is different. Typically our clients select a trusted family member or friend who they know will be able to financially and emotionally care for their children should something happen to them.
What is a Revocable Living Trust?
A Revocable Living Trust is a will alternative that is often used for clients who may need assistance managing their assets now or in the future and for clients owning out-of-state property.
Other than wills, what other estate planning options are available?
If you would like to learn more about options available that fit your specific circumstances, please contact us at 713-979-5566 or by email at info@ohdlegal.com. We will be happy to work with you to find the best solution to your estate planning needs.
