Estate Planning
Do not let the State of Texas determine how your estate should be distributed upon your death; it is your right to distribute your assets as you see fit. By allowing the Law Office of Rhiannon K. Jajoo to assist you in creating an Estate Plan tailored for you, you can be in control of your property.
Estate Planning is for the Protection of You and Your Family:
Estate planning is for everyone. Everything you own, including cars, bank accounts, family heirlooms, collectors’ items, real estate, etc. are part of your personal estate. You need a formal estate plan to be able to share them with family and friends. Working out an estate plan with a licensed attorney is the best way to protect your beneficiaries. Without an estate plan in place, your family will be required to go through a lengthy court process, with a judge distributing your possessions the way the judge thinks your possessions should be distributed. Estate planning is the best way to make your wishes known.
Last Will and Testament
A will is a legal document that allows you to direct how all of your possessions are to be distributed after your death. A will allows you to appoint someone you trust to act as your executor to handle your estate. Your executor is authorized to make decisions with court oversight and distribute assets according to your wishes as you have laid them out in the terms of your will. Your executor also has the power to resolve disputes that may arise concerning distribution of your assets. Even with a will, the probate process can be expensive and take many months to complete. You can get help from an experienced, licensed attorney who will discuss with you if a will is the best solution for your personal circumstances, or whether you should consider a living trust.
Trust
A trust is an alternative to a will that may come with many advantages, including avoiding a lengthy and expensive probate processes. A living trust allows you to transfer your possessions into a trust during your lifetime. After your death, the Trustee of the trust may retain ownership of your property in trust for the benefit of your beneficiaries or pass ownership the property to your beneficiary outright. Unlike a will, the terms of a living trust can be kept completely private. Other benefits to creating a trust include the protection of assets from creditors and certain tax protections. There may be circumstances where you choose to not transfer certain property into the living trust and in those cases, you will need a will to assign those specific possessions to the beneficiaries you designate.
Directive to Physicians
The Directive to Physicians is what people commonly think of as a “Living Will.” The Directive to Physicians is a legal directive that allows your wishes to determine your end of life care. It is used in the event you are unable to communicate with loved ones or physicians. It enables you to issue "do not resuscitate (DNR)" orders to physicians in the case where you are suffering from a terminal or irreversible condition. You can also use a living will to inform caregivers that you want your physician to administer palliative care (to ease pain and suffering) in cases where you cannot communicate that to a physician.
Medical Power of Attorney
The Medical Power of Attorney allows you to select a trusted individual to make health care decisions for you if you become unable to make those decisions yourself. The inability to make health care decisions must be certified in writing by your physician.
Statutory Durable Power of Attorney
A Statutory Durable Power of Attorney allows you to appoint an agent to act for you in a variety of business-related transactions, including banking, legal claims, and personal maintenance.
