Protecting Your Legacy

  1. Home
  2.  » 
  3. Estate Planning
  4.  » A letter of intent may play a role in estate planning

A letter of intent may play a role in estate planning

On Behalf of | Jun 27, 2018 | Estate Planning |

Making plans can have many benefits. When it comes to estate planning, Texas residents can let their families know important information that will need taking into account after their deaths. However, in order to have comprehensive plans, individuals may want to make sure that they utilize the right planning tools.

Certainly, a will has its place in the majority of estate plans. This document can allow parties to detail how they want their final affairs handled after they pass. They can also utilize other documents like health care directives to address how medical situations should be handled and trusts to give further protection and instruction in regard to asset distribution. This information can often help surviving loved ones feel more in control during the end of a person’s life and after his or her demise.

Of course, as part of an estate plan, it may also prove wise to consider including a letter of intent. This document gives the person the chance to explain why he or she made the choices detailed in the estate plan, such as why one person received a certain asset. Because it is common for disputes to come about during the probate process, especially over property, a letter of intent could help lessen the likelihood of such conflict.

Some aspects of estate planning, such as creating a will, may seem obvious, but it may be important for Texas residents to understand that plans can go far beyond this document. If individuals are interested in making sure their plans include all the information they want their surviving loved ones to know, they may want to explore their planning options. Speaking with knowledgeable attorneys could help in this endeavor.