WILL:
A Will is the document that you prepare to say who you want to receive your property at death, and who you want to handle your estate. If you have minor children, you would also want to name the person that you want to be the guardian of the children, and the trustee of the minor's trust (minors are not able to take gifts directly; the gifts need to be held in trust for them until they are adults). Minimum information needed to prepare a basic Texas will is linked.
If you do not have a Will, that is considered as being "intestate".
MEDICAL POWER OF ATTORNEY/DESIGNATION OF HEALTH CARE AGENT:
A Medical Power of Attorney/Designation of Health Care Agent is a document that allows you to name an agent to make health care decisions for you, if you become unable to make those decisions yourself. Without this document, neither your spouse nor your children have any authority to make health care decisions for you, except in an emergency, without a court appointing them as your guardian.
STATUTORY DURABLE POWER OF ATTORNEY:
The general Statutory Durable Power of Attorney is a document that allows you to name an agent, or "attorney-in-fact", to make other non-health care decisions for you. This would include things like paying your bills, and generally handling your affairs. You can make this effective immediately, or reserve those powers until you become unable to handle your own affairs.
©2001
Bradie, Bradie & Bradie[
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