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Many people believe that estate planning is reserved for wealthy individuals who leave behind significant estates to their heirs. Estate planning is, however, an important tool for all Texas residents, regardless of wealth. An individual’s estate plan will not only include one’s wishes regarding the distribution of their estate, but also choices of guardians for minor children, end-of-life health care preferences, and an executor, among other things. Such planning ensures that your wishes are recorded, eliminating stress and anguish for your surviving family members and friends. Without a plan in place, Texas law will govern the administration of your estate, which could result in unintended consequences. Unfortunately, estate planning is an area being neglected by far too many people.
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