Taking the time to create an estate plan helps you decide how to distribute the hard-earned assets you have accumulated during your lifetime. Follow this framework to achieve your personal and charitable goals and recognize the people and causes you cherish most:
- Determine which people and charities should receive your assets and whether the gifts should be made outright or in a trust. Learn more about the variety of ways to support the wild things and places of Texas in your estate plan.
- Select a trusted family member, friend or responsible party, such as a bank or trust company, to administer your estate.
- Prepare a health care power of attorney to indicate who should make health care decisions on your behalf if you are unable to do so. You should also decide if you want a living will, which directs that no life-sustaining medical procedures will be used if there is no hope of recovery.
- Calculate your net worth and list your financial assets, including bank account numbers, insurance policies and retirement plans.
- Compile a list of your personal data, including Social Security number, date of birth and digital information, such as online accounts, user names and passwords.
- Record the locations of important documents, such as your vehicle title, marriage certificate and tax returns, as well contact information for your professional advisors.
- Ensure that your will and other estate planning documents are stored in a secure location outside of your safe-deposit box, which may not be immediately accessible after your passing.
- Consult an estate planning attorney for assistance as you develop your plan.
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If you’re considering naming Texas Parks and Wildlife Foundation in your estate plan, please let us know so we can thank you and ensure that your gift is used as you intend.
This information is not intended as legal advice. For legal advice, please consult an attorney. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes include federal taxes only. State
income/estate taxes or state law may impact your results.
