TEMPLE, Texas — As an adult, it's always recommended to have financial affairs in order.
Jeff Thigpen, an attorney at Linzy & Thigpen Law Firm in Temple, said there's been a nationwide increase in the number of people reaching out to lawyers to set up their estates. While it's not required to use an attorney to do so in Texas, it's highly recommended.
"I frequently have client conferences where I'll ask a question and the client will say, 'I never thought of that,'" Thigpen said. "I've been trained, and attorneys have been trained, to consider the worst-case scenarios."
In fact, odds are you've seen commercials on TV for services like LegalZoom.
Thigpen said that while these sites are legitimate, they don't tailor the documents to each individual case. He also warned that they don't always tailor to specific laws in each state.
Another important part of the process is the unfortunately-morbid conversation with family. Thigpen recommended telling a family member where to find the needed documents and how to access them.
"I'd recommend that you have a conversation about your beneficiaries on what your wishes are so that there's not any surprises when that time arises," Thigpen said. "It usually makes things go a little smoother if everyone is aware."
In a time when many Central Texans are under shelter-in-place orders, Thigpen said the process can start electronically with an attorney. He also outlined four types of affairs which are part of what he called the estate-planning suite:
- Statutory Durable Power of Attorney
This document is also called a financial power of attorney. It allows someone to act on your behalf and legally binds you to whatever items are assigned in the document. - Medical Power of Attorney
This allows someone to consent to medical treatments on your behalf, should you become unable to do so. - Advanced Directive
This document is legal documentation of your wishes, should you have a terminal condition, in which, you are unlikely to recover from. This allows your doctor to be given the document, removing the burden from family members or whoever would be tasked with that decision. - Last Will & Testament
This document distributes your assets upon death.
Thigpen said Linzy & Thigpen, like other firms, has closed its office's in-person visits due to the current shelter-in-place order in Bell County. However, he said the firm is still conducting its business electronically and over the phone.
To contact Linzy & Thigpen's offices in Temple, he said you can call 254-773-1663. That line will go straight to voicemail until the order is lifted, but he said someone will return your call. There is also a "Contact Us" page on their website. Thigpen said someone will get back to you within a day.
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