Teachers: Let Us Make a Lesson Plan for You

Back to School begins this month across Texas. With school starting back, we know how busy you are.  As you are the building block for the futures of many small children; we are the building block for your estate. While you are preparing your lesson plan for class, why not let our estate planning attorneys at Hardie Alcozer plan ahead for you and prepare an estate plan?

What is an estate plan?  We get this question a lot!  An estate plan is a plan that states where your money and property go upon you being incapacitated or when you pass away. Sometimes this conversation can be difficult if there are decisions to be made in choosing who would be taking care of you and your estate.  Confiding in us is a private conversation. 

What documents do you need?  We prepare Wills, Trust Agreements, Powers of Attorney, Directive to Physicians, Appointment For Disposition of Remains, HIPAA, Beneficiary Designations, Declaration of Guardian (for you), and Declaration of Guardian for Children (if needed).

We typically charge a flat fee depending upon the complexity of the estate plan. From the date of consultation to the date of signing is typically 6-8 weeks.  We know that teachers are used to a six-week plan. As you have started your first six weeks, we can schedule a consultation for you and have you signing documents by Thanksgiving break!

Here is a quick breakdown to explain some of the documents our estate planning lawyers prepare:

Will – A will helps your family and friends know how you would like your estate distributed after you pass away. This document can be a simple will or we can detail to make sure you leave your assets to each person/individual/entity you would like.

Trust – A trust helps your estate to avoid probate.  We would prepare a simple will along with the trust to transfer all of your property (real and personal) into the trust.  We also prepare an Assignment of Personal Effects so that even your couch belongs to the trust! This document is beneficial when you have young children or when there is someone that will inherit money that is not financially responsible. A trust covers situations where you are able to make decisions and serve as your own trustee, when you are incapacitated and need a successor trustee, and when you pass away. This allows you to still use your money as you do not but protects you and your family. We can add special language to help give your family some “teachable” moments on how to handle money.

Powers of Attorney – there is a financial and a medical power of attorney. Each document allows you to appoint someone upon your incapacity to handle financial and medical decisions for you.  The financial power of attorney has the option to become effective upon the date signed or upon your incapacity.

Directive to Physicians – This document eases the burden of your family of deciding whether to “pull the plug” or leave you on a life sustaining treatment until you pass away on your own.

Beneficiary Designations – Often, banks do not make sure you have a beneficiary designated on your account(s). We prepare beneficiary designations for 401k, IRAs, and life insurance.  We recommend that you contact your financial institution(s) to verify you have someone listed. If there is no beneficiary listed, this account must go through probate for access.  A majority of teachers have retirement set up through TRS.  We can prepare a beneficiary designation so

Declaration of Guardian for Minor Children – If something were to happen to you and your children’s other parent, a plan needs to be in place and in writing as to who you would like your children to live with.

If you have any questions and/or would like us to get a plan in place for you as you start your new year, please contact our office for a consultation. 

Here are some questions we would have for you:

·        What type of TRS payments will you receive at retirement: a lump sum or installments?

·        Who is the beneficiary for your TRS?

·        Do you have children?

·        Do you own a house?

Avoid using any forms you find online. DIY cookie cutter forms do not guaranty that your estate is taken care in the correct way.  Our attorneys are well experienced, great listeners, and help guide you to the best plan for you. 

You are under enough stress. Let us help you protect your family and make sure that you have your i’s dotted and t’s crossed.