Estate Planning Protects Everything We Are Thankful For

November 1, 2013
Law Offices of Debbie J. Cunningham

The end of November marks a time when we reflect on what we are thankful for while being surrounded by our loved ones. Before gathering around the turkey, stop and ask yourself if you have protected everyone and everything that you cherish. It could be something small like an heirloom or jewelry, or as important as your spouse and children. Your estate plan allows you to face the future knowing you have taken steps to protect, provide and plan for yourself and your loved ones lending some certainty to the uncertain future.

“Be thankful for what you have; you’ll end up having more. If you concentrate on what you don’t have, you will never, ever have enough.”   ~Oprah Winfrey

 

Protecting Your Possessions

Creating a Will is the foundation of everyone’s estate plan.  It provides instructions on how to distribute your assets upon your passing, along with other important issues. A Will is the only way to distribute your assets in a manner specific to your desires instead of the manner outlined in the law.

Protecting Your Family

An important clause of your Will declares who will be the guardian of your minor children if you can no longer care for them.  Naturally their other parent will have that role first.  It is not an easy future to imagine or decision to make but if neither of you is available, it could be the most important decision you make about your children’s future.

Protecting Yourself

A Medical Power of Attorney lets you designate the person you want to make all medical decisions for you if you become incapacitated. The person of your choosing should be empowered to take care of you, if the need ever arises. A Directive to Physicians, also known as a Living Will, gives specific instructions on your end-of-life care.  It is essential to have your wishes in writing, and can take a lot of stress off your spouse, partner or loved one when those decisions need to be made. General Power of Attorney allows you to choose a person to handle your financial affairs if you become incapacitated. This is important because, without it, the state statutes and a judge will make this decision for you.

These are the documents that should be part of every estate plan, and without them someone not of your choosing may be making these decisions for you. Protecting your future, as well as your family’s future, is truly something to the thankful for.

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Law Offices of Debbie J. Cunningham

Debbie Cunningham is an Irving attorney providing affordable estate planning to the Dallas/ Fort-Worth areas. She understands the steps you should take to protect yourself and your loved ones. Debbie is family-focused and wants to ensure her clients are fully informed on the options that are available for their families. Debbie’s own blended family has given her valuable insights into the complexities of family dynamics.

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