Estate planning ahead of time gives you the opportunity to carefully consider how you want to divide your assets after death. However, certain situations may call for an expedited process.
If you or a loved one needs last-minute estate planning, you still have options.
Consequences of dying without a plan
Not everyone has a will ready to go when something happens. Unfortunately, that gives them little say over how the courts divide their estate, including choosing beneficiaries and making rules for specific assets. Without a will, the probate court follows Texas’ intestate succession laws, which prioritize spouses, parents and biological children.
Unforeseen circumstances can include an illness or injury that is sudden and severe. Sometimes, a situation could render you incapacitated, bedridden or stuck in a hospital. Any life-threatening situation might require you to get some basic planning done as quickly as possible. This way, you have protections in place for your loved ones and your property should you pass.
Estate planning essentials
Estate planning can get quite involved, but some of the basic needs include writing a will, planning for future healthcare needs and choosing a power of attorney who can make decisions for you if you become incapacitated. You can also plan for funeral expenses to take that stress off your family’s shoulders.
Additional services for emergencies
In addition, some law firms provide accommodations to those who cannot travel and meet with an attorney. They may conduct meetings through video or travel to where you are so that you get the care you need.
Although it is best to start estate planning earlier in life, it is not too late to put protections in place, even if it is an emergency.