Estate planning is more than deciding who inherits your property. It's about protecting your loved ones, preserving your legacy, and ensuring your wishes are honored. While few people enjoy thinking about these matters, taking the time to plan can bring peace of mind and prevent legal complications.
At the Law Office of Brett H. Pritchard, we help Central Texas families create clear, effective estate plans. Whether you're new to the process or updating your documents, here are the essential estate planning tools every Killeen resident should consider.
Understanding Estate Planning Basics
Estate planning is the process of organizing how your assets, healthcare, and responsibilities will be managed in the event of incapacity or death. It's important for everyone—not just the wealthy or elderly. Estate planning answers questions like:
Who will inherit my property?
Who will care for my children?
Who can make medical or financial decisions if I cannot?
How can I help my family avoid court delays, disputes, or taxes?
The Last Will and Testament
A Last Will and Testament is a foundational estate planning document that ensures your property is distributed according to your wishes. It also allows you to appoint trusted individuals to handle key responsibilities after your passing.
A will carries out the following key functions:
Distributing assets: Specify who will inherit your home, vehicles, personal belongings, and financial accounts.
Naming an executor: Designate someone to carry out your wishes, settle debts, and manage the probate process.
Appointing guardians: Choose a guardian to care for your minor children if both parents are deceased.
Stating personal wishes: Include directions for burial, memorial services, or charitable donations.
Without a valid will, your estate will be handled under Texas intestate succession laws, which may not reflect your intentions or your family’s unique circumstances.
Legal Requirements for a Will
To create a valid will in Texas, your will must meet the following requirements:
The will must be in writing (typed or handwritten).
The testator (person creating the will) must be at least 18 years old and of sound mind.
The document must be signed by the testator and two credible witnesses (age 14 or older).
Although handwritten (holographic) wills are legal, they are often contested or misinterpreted. Working with an experienced estate planning attorney ensures your will is properly drafted and legally enforceable.
Revocable Living Trust
A trust helps manage and distribute assets while avoiding probate. You transfer ownership of assets to the trust and appoint a trustee to manage them. Setting up a trust can bring many of the following benefits:
Avoiding probate
Maintaining privacy
Ensuring continuity if you're incapacitated
Allowing flexible changes during your lifetime
Although not every Killeen resident needs a trust, it can be an invaluable tool for families with real estate, business ownership, or significant financial assets. Even with a trust, a "pour-over" will is still needed to transfer remaining assets into the trust upon your death.
Durable Power of Attorney
A durable Power of Attorney (POA) lets you name someone to handle your financial matters if you're incapacitated. You may choose to make it effective immediately or only upon a physician’s determination of incapacity (a “springing” POA).
Your designated agent can pay bills, manage real estate, file taxes, and more. Without a POA, your family may need to go to court to gain authority over your finances—a stressful and costly process.
Choose someone responsible and trustworthy. Many people appoint a spouse, adult child, or close friend. It's wise to also name a backup agent in case your first choice is unable to serve.
If your estate plan does not include a durable Power of Attorney, contact a skilled estate planning lawyer to get this essential document set up.
Medical Power of Attorney
A medical power of attorney authorizes someone to make healthcare decisions on your behalf if you become unable to do so. This document only takes effect when a physician certifies you are incapacitated.
Your agent can take the following kinds of actions on your behalf:
Approve or decline treatments
Access medical records
Make care facility decisions
In Texas, your medical power of attorney must be signed, dated, and either notarized or witnessed by two adults (at least one of whom is disinterested in the matter).
Directive to Physicians (Living Will)
A Directive to Physicians, often called a living will, expresses your preferences regarding life-sustaining treatment if you are terminally ill or permanently unconscious.
This document answers questions such as:
Do you want life support, artificial hydration, or feeding tubes?
Do you want comfort care only?
Do you want to donate organs after death?
Having a living will spares your loved ones from making agonizing decisions during a difficult and emotional time. It also helps prevent disputes among family members about your medical care.
The Texas Health and Safety Code provides a standardized form for this directive, though a seasoned estate planning attorney can customize it to fit your specific needs.
HIPAA Authorization
Medical privacy laws prevent healthcare providers from sharing your records without written consent. A HIPAA authorization allows your chosen agents or family members to access and discuss vital health information.
Without it, even close relatives may be kept in the dark during emergencies. Having this document ensures that your chosen representatives can communicate effectively with your doctors.
Declaration of Guardian
You can name a legal guardian for yourself or your minor children in the event of incapacity or death. Courts respect these declarations and typically honor your preferences.
Without this document, the court decides who assumes guardianship, which may not reflect your wishes. To understand more about how courts choose guardians and how to ensure your wishes are respected, speak with a knowledgeable estate planning attorney.
Disposition of Remains
A Disposition of Remains document outlines your burial or cremation wishes and allows you to appoint an agent to carry them out. It ensures your final wishes are followed and reduces family disputes.
Under Texas Health and Safety Code §711.002, you can legally designate someone to control your remains.
Beneficiary Designations
These are often overlooked but critical. Ensure all retirement accounts, life insurance policies, and payable-on-death (POD) or transfer-on-death (TOD) accounts list the correct beneficiaries.
These designations override your will, so review them regularly with your estate planning attorney.
Digital Assets List
Modern estates include digital property that should be included in your will. Keep a list of the following kinds of assets and accounts:
Email and social media accounts
Online banking or investment portals
Cloud storage and digital photos
Subscriptions
Cryptocurrency or NFTs
Texas has adopted the Uniform Fiduciary Access to Digital Assets Act, allowing your representative to manage digital assets if you grant them access.
Letter of Instruction
Though not legally binding, this informal letter provides practical guidance for your executor and loved ones. It can include:
Contact info for advisors
Locations of important documents
Passwords and account logins
Instructions for pets or personal belongings
Final personal messages to loved ones
Because a letter of instruction isn’t a formal legal document, you can update it anytime without notarization or witnesses. Your skilled estate planning attorney will help ensure that your wishes are well-reflected in this document.
Keep Your Estate Plan Updated
Review your plan regularly, especially after significant life events such as these:
Marriage, divorce, or remarriage
The birth or adoption of a child
Significant financial changes
Moving to a new state
The death of an agent, trustee, or beneficiary
Even if you do not experience any major changes, it's wise to review your plan every three to five years. An outdated estate plan can cause confusion or even legal challenges.
Why Work with the Law Office of Brett H. Pritchard
At the Law Office of Brett H. Pritchard, we believe estate planning is not just about paperwork; it is about protecting the people and property that matter most. Our experienced legal team helps Killeen residents craft customized estate plans that reflect their goals, values, and family dynamics.
Our services include:
Drafting wills, trusts, and powers of attorney
Healthcare directives and guardianship designations
Probate avoidance strategies
Updating and reviewing plans
Support for families after a loved one passes
We make the process straightforward, private, and legally sound.
Don't Wait to Plan for the Future
Failing to plan leads to court delays, unexpected costs, and stress for your loved ones. With proper documents in place, you stay in control of your legacy.
Contact the Law Office of Brett H. Pritchard by giving us a call at (254) 781-4222 or schedule a FREE consultation today to create or update your estate plan with confidence.