Planning for the Future

The next stage of financial and estate planning begins with marriage and the purchase of your first home. When two persons marry, they usually begin to acquire assets jointly which need to be allocated among the two families in the event that both husband and wife are involved in a sudden accident and pass away.

A will, a power of attorney to manage assets, a medical power of attorney to manage health care, an advance directive to physicians (also known as a living will), and a HIPAA release to authorize disclosure of medical information should be prepared for both husband and wife so that in the event an accident or sudden illness results in an estate or a guardianship, the surviving spouse and/or the parents of the husband or wife are properly empowered to act. Also, the consideration of joint tenancy with rights of survivorship, payable on death accounts, and transfer on death accounts along with the proper designation of beneficiaries for IRAs, 401(k)s, 403bs and other similar accounts (i.e., life insurance) should be reviewed for the proper transfer in the event of an unforeseen passing or illness.

If you have the basic estate planning documents in place, your parents and/or other loved ones could utilize them to perform all of the same actions but without court supervision and unnecessary costs.

We can help you with your estate planning.

Contact our Austin office today to schedule an appointment to discuss your initial planning needs.


Contact us today for a free consultation.