We’d never have the fairytale of Cinderella and her evil stepmother and sisters if her father had had an estate plan.
Cinderella’s father died without a will, what is called intestate, thus everything went to his surviving spouse. He probably thought his new wife would do the right thing when it came to caring for his only biological daughter. We know how that turned out. At least the result was a popular fairytale. But most of us don’t live in a fairytale.
You might think that estate plans are only for people who live is multi-million-dollar homes in gated communities and pass by gas stations because they drive a Tesla. While you may not need such a plan if you are renting a small apartment and take public transportation, if you own a condo or house, a motorcycle, car, or truck, have savings, retirement funds if not investments, you need a plan that states what to do with these things after your death.
And if Ella were real, she’d agree: you definitely need an estate plan if you have minor children.
An estate plan consists of several documents that protects your assets for your family or friends, allows you to chose who your belongings go to through a will, and allows you to chose who will make your decisions through a health care proxy form and a durable power of attorney.
Besides wills and trusts, some of the things an estate plan includes are:
Please call Sheehan Law, P.L.L.C., estate planning attorney offices, in Pflugerville, Texas for a consultation (512) 355-0155 today.