Estate planning consists not only of making arrangements for your assets, but also involves such methods as assigning powers of appointment and powers of attorney. Granting someone power of appointment entitles that person to decide how your assets will be divided.
You may grant unrestricted access to the distribution of all your assets (this is referred to as the general power of appointment), or you can assign decision-making power for only certain assets (this is called the special power of appointment). You may also take help of an estate planning lawyer via http://www.voyantlegal.com/ogden-estate-planning-attorney.html.
Power of attorney entitles a person to make legal and/or medical decisions on your behalf when you are unable to do so. As with power of appointment, this person may be assigned power in only certain situations and in regards to specific matters, or they may be granted full power in any given situation or at any time.
As you can see, estate planning is every bit as relevant to your own life as it is to the lives of the people around you. Having an experienced estate lawyer in Houston to guide and inform you through the process will significantly impact how accurately your most critical interests are represented.
