Power of Attorney - An Essential Part of a Full-Proof Estate Plan in Wichita Falls
Passing away or becoming incapacitated are things we rarely think about and typically do not expect to happen anytime soon, but they can happen in a moment. All it takes is one accident or one illness and the course of our lives can be changed forever. When that happens, it not only affects us, but those around us as well. If you do not have someone appointed to handle your finances and make medical decisions on your behalf, you are compounding the problem and creating more issues and difficulties for your loved ones.
Financial Power of Attorney
I’m sure it’s safe to say you wouldn’t just hand over a blank check to your child and ask them to manage your financial matters. But this happens all the time in Wichita Falls and throughout Texas and Oklahoma when individuals without estate plans have courts appoint a conservator over an incapacitated individual, whether they were the victim of a catastrophic accident, or simply the victim of old age or illness. Whatever the reason may be, they can no longer advocate for themselves regarding their financial affairs. Without a financial power of attorney established and in place, your loved ones will be placed under unnecessary stress and the long, expensive burden of the court process to establish conservatorship.
Once this is done, the conservator essentially has a blank check to manage your finances. Simple as that. No other rules.
We believe your plan should be more than simply having documents in place. We advocate for you to create a comprehensive plan not only appointing who you want to manage your finances, but how you want them to be managed.
Medical Power of Attorney
Likewise, with a Medical Power of Attorney, we advocate for your plan to be more than merely appointing a medical agent to decide on whether or not and when to end life support. When you simply appoint someone, but don’t set forth any wishes, you have the documents, but what planning have you really done? Rather, you should have your medical wishes laid out for whoever you appoint to follow, so they can be comfortable in their role, and you can be confident they are making the decisions you would want them to make.
If you fail to utilize a Medical Power of Attorney and a situation arises that disables you from making decisions on your behalf, your family will have to hire an attorney to go through a guardianship hearing. Of course, this comes with court fees, attorney fees, and the delay that comes with having to go through the court. Just like the conservatorship hearing with the Financial Power of Attorney, the outcome is an agent whom you might not want to be your agent and with no clear instructions.
Additionally, we utilize a Healthcare Directive so you can make your wishes clear up front about life sustaining situations.
The Importance of Financial and Medical Powers of Attorney
Unexpected strokes, the onset of dementia, or an untimely accident can happen in a moment. Do not complicate the problem by not having a suitable, well-devised plan in place to deal with the transition to these new circumstances.
At Booker Law, we advise and advocate for your estate plan not to be a well-devised rulebook that will dictate and guide your financial affairs and medical decisions when you are no longer able to handle them yourself.
Estate Planning Overview
At Booker Law, we believe in proper and comprehensive estate planning tailored specifically to meet your and your family’s needs. Of course, we offer individual documents, but we advocate for complete planning through one of our package deals.
The Booker Law Estate Planning Portfolio Binder
All our package deals come with an “Estate Planning Portfolio”. In this portfolio, you will have your estate plan neatly tabbed and organized along with the additional helpful sections provided for you to fill out and maintain organization of your estate for the convenience of your family.
In addition to having all your estate planning documents neatly organized and together, you will be provided with the following:
- Essential Documents: This section allows you to keep track of personal information, contact information for family members and for any other important persons or agencies as well as where all your important documents are.
- Assets: This section allows you to keep track of all your assets for the ease and convenience of your family. Much of the burden in estate administration comes from tracking down and locating all assets. By maintaining a list of your assets within your estate planning portfolio binder you are making life much easier for your loved ones.
- End-of-Life Instructions: This section provides a checklist of things to do upon your passing and it provides a basic template of things to do and letters to send to notify certain agencies of your passing.
- Q&A and Glossary: This section provides answers to the most frequently asked questions about estate planning, and it defines some common estate planning terms.
- Blank Sections: We provide blank sections for you to fill in as you see fit. If there are any type of instructions or information we have not accounted for in the above sections, this is where you would add those in.
- USB Drive: We also understand the importance of having digital copies in this day and age, so we provide you with those digital copies on a USB drive.
Booker Law’s Estate Planning System
Estate Planning Questionnaire: Quick and easy way for us to get a good understanding of your unique situation.
Discovery and Strategic Planning Session: Understand your option and select the estate planning solution that is right for you.
Signing Meeting: Review and sign your estate plan.
Estate Plan Maintenance and Client Care: Enjoy calls, emails, and review meetings with our firm to make sure your plan remains up to date and accurately reflects your current circumstances.
We will be here for you as a trusted family attorney and counselor.
Estate Plan Maintenance and Client Care
As a client of ours, we encourage you to take advantage of the services we offer in support of estate plan maintenance and client care.
Our services go far beyond simply setting up a Will or Living Trust. Our team and our resources are also available through:
- Free phone calls
- Helpful videos
- Informative articles
The Cost of a Customized Estate Plan is Invaluable
All our estate plans are prepared for a fixed price quoted in advance at the discovery meeting and agreed to by you in writing before we finalize your plan. There will not be any surprise changes or fees ever. Additionally, payment plans are available if needed. We welcome the opportunity to serve those vital to our communities, including teachers, military service members, and first responders.
In the end, you will walk away with a comprehensive, customized estate plan tailored specifically to meet yours and your family’s needs. But more importantly, you walk away with the peace of mind knowing your affairs are in order and your family is provided for.
Contact a Wichita Falls Estate Planning Attorney
At Booker Law, our desire is for our clients to understand all their options and make an educated decision.
Everyone should have financial and medical powers of attorney in place. They'll provide peace of mind knowing someone is appointed to make important decisions when you no longer can.
Do not delay! Plan for the inevitable and secure your family's future. Call us at 940-569-4000 or fill out our contact form to schedule a free, confidential, no obligation consultation.