Protect your assets and your health as you age with support from an Elder Care Law Attorney in Dallas, TX
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Planning for Incapacity and Long-Term Care
As you age, it’s more important than ever to put plans into place to help protect you in the case of incapacity or the need for long-term care. Estate planning, guardianships, wills, trusts, and powers of attorney can all help you have peace of mind while you age.
Each of these legal documents offers different protections, which is why having a multifaceted estate plan is so essential.
Estate Planning
Our team at Krupa Downs will go over how you want to distribute your assets, help you protect your assets against creditors and others who may try to take advantage of you. Wills, trusts, guardianships, and powers of attorney go into your estate plan to protect you in the future.
Wills
Texas law will dictate how your property is distributed to your heirs and beneficiaries if you pass away without a will. With a will, you get to choose to leave your property to anyone you select. You can also set up guardianships for your minor children or establish a trust within your will.
Trusts
Trusts are relationships in which trustees hold property for beneficiaries. The third-party holds the assets you place in a trust until it’s time to transfer them to the appropriate beneficiary. When you place assets into a trust, you take them out of your name and estate. This makes it easier to protect the property from creditors and undue influence.
Guardianships
Guardianships are there to protect the vulnerable. Suppose you have a loved one who is incapacitated or struggling to care for themselves or their finances. In that case, you may seek a guardianship to obtain the legal authority to make decisions on their behalf. Guardianships are available for adults and children, and guardians are only appointed when a person is truly incapacitated or a risk to themselves.
Medical Power of Attorney
Your medical power of attorney is an important document that dictates who can make medical decisions for you if you’re incapacitated due to illnesses or injuries. You may include a directive to physicians (a living will) with this to provide guidance on the medical decisions you’d like to make if certain situations arise, such as your preference for end-of-life care.
Durable Power of Attorney
A durable power of attorney is a written legal document that allows you to appoint an agent to take care of your property and financial matters if you are incapacitated. Doing this will enable you to select someone you trust rather than having a court appoint a legal guardian to manage the estate at a later time.
Areas we Serve
- Plano TX
- Frisco TX
- Allen TX
- Dallas TX
- Denton TX
- McKinney TX
- Carrollton TX
- Melissa TX
- Prosper TX
- Richardson TX
- Wylie TX
- Sachse TX
Areas we Serve
- Plano TX
- Frisco TX
- Allen TX
- Dallas TX
- Denton TX
- Melissa TX
- McKinney TX
- Carrollton TX
- Prosper TX
- Richardson TX
- Wiley TX
- Sachse TX
Learn More about Elder Law with Krupa Downs Law, PLLC
With estate planning and elder care law, there are many ways to protect yourself or a loved one. Whether you need to create a guardianship, will trust or other plans for the future, getting to know the legal options now is an excellent idea.