Debbie Cunningham was recently selected as “Best Attorney in Las Colinas & Coppell” for 2015 by Living Magazine. Each year, the magazine asks its readers to vote in over 100 categories for the companies they consider the best.
Plan for Life’s ‘What-Ifs’
In this day and age, we have access to more news, videos, pictures, and tweets than we have hours in the day. Anytime Mother Nature strikes or there is a disaster somewhere in the world, we are instantly updated with the latest information. When tragedy hits, most people tend to think of their loved ones and realize that there are many ‘what-ifs’ in life.
It’s important that you have proper estate planning documents in place to protect your family from life’s many curve balls. The best time to create or update your estate plan is before tragedy strikes. Before scheduling time to talk with an attorney, think about these three things:
1) Identify a means to pay for long-term care
Many of us will need long-term care at some point in our life and unfortunately it can be quite expensive. Long-term care insurance helps provide for the cost of long-term care. It is for people who can’t perform basic daily activities and need someone to help them. Many people don’t feel comfortable relying on family members financially so start planning now to have money available for your long-term care. Click here to read about more long-term planning options.
2) Select a Power of Attorney
There are two types of Power of Attorney: Medical and Durable. A Medical Power of Attorney addresses who should make medical decisions if you are unable to make them for yourself. A Durable Power of Attorney addresses financial decisions. Either one can be customized to fit the needs of your situation. Click here to read more about the different types of Power of Attorney.
3) Declare Your Guardian
You may think that guardianship is only for children. They are the classic example of someone who needs a guardian, but this is not the only situation. If you are not able to care for yourself as an adult, then you will need a guardian. If you want to ensure your potential guardian is the person of your choosing then you need to prepare a Declaration of Guardian in advance. Click here to read more about planning for incapacity.