Empower Series – Estate Planning and Other Legal Factors that Affect Wealth

Published on: Mar 13 2013 by manasseh


Estate Planning and Other Legal Factors that Affect Wealth


Register at www.empowerseries.com


You and your family & friends are invited to this month’s FREE Empower Series Workshop on Estate Planning and Other Legal Factors that Affect Wealth.

One of the most common misunderstandings about estate planning is the belief that it is only for the wealthy. Almost everyone has an estate. Basic estate planning is an important component of an organized and responsible life, whether or not your estate is large enough to be subject to federal estate taxes.

Estate planning includes more than just a will. It includes planning for potential disability during your lifetime, disposition of your assets and liabilities at the time of death, and designation of a guardian to take care of your minor children in the event both you and your spouse die or become incapacitated.

Many people (as much as half of the population) will experience a period of either physical or mental disability before their death. Lack of planning makes caring for a disabled individual very expensive and cumbersome for the caregiver. Good planning preserves a person’s dignity and his or her assets, which can be used for their care or can be preserved for the next generation.

The basic estate planning documents include the following:

  • a Will that is validly executed in the state of Texas;
  • a Statutory Durable Power of Attorney;
  • a Medical Power of Attorney;
  • a Directive to Physicians (often called a Living Will);
  • a Designation of Guardian Before Need Arises;
  • an Appointment of Guardian for Minor Children; and
  • other documents, as indicated by your personal circumstances.

Register at www.empowerseries.com

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