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I found a good attorney that was versed in trusts, and set up a revolkable trust. Everything of value is in the trust, and I can brings things into and out of the trust (i.e. cars, etc.). I listed how my end of life care is to be handled. It is a good feeling, and I did it 15-18 years ago. | |||
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Member |
In Texas I’d also add to the documents mentioned above, a Designation of Guardian in Advance of Need. This way you get to say who you want to act as your guardian should you ever need one and also avoids having to go through petitioning the probate court to have one apponted for you. The probate court process can be contentious and expensive if anyone challenges the petitioner. If you have minor kids you need to designate who you want to serve as guardian for them should something happen to both parents. | |||
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His Royal Hiney |
1) Confirm you're on track to be able to afford the retirement lifestyle you wish to live. If not, start saving more. If you want to finesse it more, be sure you have the right combination of Roth and traditional retirement savings accounts. 2) documents - wills, durable power of attorney, advanced health care directive 3) Insurance - in case your savings can't support the loss of income can't support the remaining souse, liability insurance to protect your assets. Some states have a homestead law that protect your home from being seized to cover your liabilities if you file the paperwork. "It did not really matter what we expected from life, but rather what life expected from us. We needed to stop asking about the meaning of life, and instead to think of ourselves as those who were being questioned by life – daily and hourly. Our answer must consist not in talk and meditation, but in right action and in right conduct. Life ultimately means taking the responsibility to find the right answer to its problems and to fulfill the tasks which it constantly sets for each individual." Viktor Frankl, Man's Search for Meaning, 1946. | |||
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Member |
Retired holster maker. Retired police chief. Formerly Sergeant, US Army Airborne Infantry, Pathfinders | |||
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