When dealing with your Texas estate, there are many different forms of wills and trusts that you can create. However, a living will is a little different from many of the options on the table. While much of estate planning does not come into fruition until after death, a living will can take effect while you are still alive, as the name denotes. In Georgia, thousands of people are choosing to create living wills. According to US News, a living will will give directions on how to manage your assets and your person should you become incapacitated.
There are many things that can incapacitate you. For instance, if you get into a horrific car accident, you may be still alive but yet unable to make decisions. The same thing could happen in the event of a stroke, or due to the effects of dementia. If you are concerned about what might happen to your assets or person during a period where you may not have conscious control over your actions, a living will is a good document to prepare.
A living will is very useful if you happen to have very strong opinions on life-extending procedures. (The colloquial term for this is “pulling the plug” on somebody who is on life support.) A living will can also help your family members by giving them clear directives on your wishes. If you believe that your potential to be incapacitated could cause a rift between family members who may need to make hard choices, a living will is a good tool to give them direction and prevent arguments.
It is important to make a living will well in advance of when you need it, if you are interested in one.