By Lorie Burch, Owner & Founding Attorney of Burch Law
1. Getting Married. It’s wedding season and getting a Will (and powers of attorney) is one of the most important steps newlyweds should take. Even though they are married, spouses do not have automatic rights to make medical or financial decision, to inherit property, or even serve as executor.
2. Buying a House. Many will buy a new home this summer and the best (and the ONLY way for the most part) to ensure your biggest investment goes to whom you want upon your death is to have a Will or trust established. That even includes jointly owned property!
3. Traveling. Everyone is hitting the road and traveling this year. In the event of an accident or emergency, you want to have peace of mind that the right people are able to make medical or financial decisions for you, especially if you are out of town.
4. Remember that New Year’s Resolution? The year is over half over, so time is running out to scratch that resolution off your list to finally get your Will put in place. Summer time is a GREAT chance to get your legal documents together before the Fall rush when we all get way too busy. Most people can complete all their planning in under 4 weeks!
5. If You Don’t Have a Will, the State of Texas Has One for You! There really is no better time to get your affairs in order than NOW! So why not this Summer? Every day you go without a properly drafted, Texas-specific Will, a medical power of attorney and directive, or someone designated to make financial decisions, you are taking a risk of putting your family and loved ones in a terrible bind. It may not be fun to think about, but if you don’t make these important decisions, a judge will and is bound by the default laws of Texas. Don’t let that happen!