Weston G. Cotten, Attorney at Law Provides Bankruptcy, Elder Law, Estate Planning, Probate, Real Estate, Social Security Services to the Highlands, TX Area.
Keywords Attorney, Bankruptcy, Elder Law, Real Estate, Social Security.
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The most common way to be sure your property gets to the person/people you want to leave it to after your death. See my blog for an in depth discussion of why a will is needed. You want your family to mourn your passing, rather than wondering why you left them in such a mess. A necessity when you are deceased.
Another method of passing your estate/property after your death. Less favored in Texas due to our streamlined probate and independent administration, but it has its uses, especially if you own property in different counties, or states. It also allows for estate management during your lifetime, but during incapacity. See my blog for a more in depth discussion of Trusts.
A power of attorney appoints someone as your agent, which will allow that someone acting on your behalf (Attorney in Fact) to handle your business and financial affairs if you become incapacitated (unable to handle your own affairs) whether by illness or accident, or to begin immediately if you should choose to let someone help with your needs immediately. You should trust the person implicitly. That person will have the ability to buy, sell, and incur debt in your name. Your whole financial estate will be in that person's control. Choose wisely.
This will allow someone acting on your behalf to make health care decisions for you if/when you become incapacitated (totally unable to handle make decisions on your own) whether by illness or accident. You should trust the person implicitly. That person will have the ability to tell the doctors to withhold treatment, or even to stop treatment. Choose a person who can make difficult decisions according to your wishes.
This is for people with incurable, often painful terminal conditions or illness. It directs that no efforts be made to Resuscitate /bring back that person if their heart stops, or brain function ceases. Often used in conjunction with a Directive to Physicians/"Living Will"
Do you wish to make a declaration of your intentions regarding life sustaining procedures, or heroic efforts to prolong your life, commonly called a living will? Remember this is only if doctors have determined that you are facing certain death that can be prolonged with medicine and machines, but death cannot be avoided. Do you wish to die sooner rather than later without artificial intervention, including feeding tubes, breathing machines, defibrillator, etc.?
If you become disabled, there is a Social Security program that will pay you disability payments during your period of disability, whether temporary or permanent. SSDI is for workers who have worked and paid into social security 20 out of the past 40 quarters. SSI is a form of welfare for disabled person who for whatever reason have not worked 20 out of the past 40 quarters. You must be disabled for 1 year, or have condition that is likely to last more than 1 year. The disability system is more easily navigated by an experienced person to help reach a successful conclusion.
Bankruptcy is for persons who have accumulate more debt, credit card debt, doctor and hospital bills, auto accident not covered by insurance, and other debts from which there is little hope of ever paying off. Bankruptcy can stop the creditors from calling, allow you to re-start your life without suffocating debt and to rebuild your credit and savings. Texas has a generous allowance for property that you get to keep when you file bankruptcy. Call and ask if bankruptcy is the answer for your situation. See my blog for more information on Bankruptcy.
Over the years I have reduced my practice, but have relied on other attorneys to help my clients with areas of the law in which I did not practice, nor did I wish to learn. I have not listed all the areas of the law that I practice, so call if you have a legal problem. If I cannot help, I can refer you to someone who has helped my other clients over the years and in whom I have a level of trust.
I assist the seller in owner finance transactions by preparing the documents necessary to properly record the sale. I prepare lease and/or rental documents. I also review land sale, or lease documents for the buyers. Don't entere into any legal transaction without consulting a legal professional first. Its too late after the ink dries.
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