ON THE MONEY Why You Need a Will Now

BY JENNY HOFF

There are some things we are happy to plan for: and, most importantly, the children involved. It also drastically reduces retirement, our kid’s college education, buying a new the costs, which can range between $10,000 and $15,000 without a will (as home, taking a trip or simply paying off credit cards. opposed to about $3,500 with one). For a family inheriting a large estate, the Then there are things we dread planning for—namely, extra money may not be too damaging, but for many families who do not have our death. The problem is if we don’t make those plans a financial cushion, it can lead to putting the expenses on credit cards, which when we are healthy and able, then we leave our loved can quickly snowball into much larger bills if interest is added every month. ones to pick up the pieces and the financial burden that A will not only helps your family in the wake of tragedy, but also helps a death without any directive can cause. protect you while you’re alive if it includes power of attorney—a person

“It’s especially important for people with [fewer] of your choice appointed to make decisions in your best interest if you are resources,” says Austin attorney Pamela Hailey-Petty. “If unable to do so. someone has more resources they have more resources How to draw up a will to fight with. If you don’t have the resources, you’re left with fewer choices.” The best way to draw up a will is with a reputable attorney you can meet with personally to ensure it’s done the correct way. LegalZoom and other The cost of not having a will sites may offer cheaper services, but if the will isn’t done correctly, it could When someone passes away, generally the next step is probate, the court’s process of authenticating a last will and testament and appointing an executor (if none is named or there is no will). It also involves determining whatever assets there may be, paying off bills and taxes and distributing the remainder to the rightful heirs. It’s a long and expensive process that can be even more costly without a will. Hailey-Petty gives an example of a couple that recently came to her saying “” The final thing family members should avoid doing in the midst of grieving be useless when needed. Typically, in Austin, the price of drawing up a will that includes powers of attorney is around $850 for one person or $1,700 for a couple. Some attorneys will offer sliding-scale options based on income to help make the process more affordable. There are also services in the Austin area where you can get a basic will drawn up for little to no cost if you qualify, such as with the Volunteer Legal Services of Central Texas. Many law schools offer reducedcost will services where a licensed attorney will monitor the whole process. The best first step is a conversation to get all your questions answered, and most attorneys either provide a free initial consultation or one that is low-cost. Other ways to protect your loved ones their loved one who passed had $5,000 to $6,000 in a bank account, which they is making When an estate goes into probate, it can take months before the executor can sell a home, a car or access accounts to help needed to access in order to pay for funeral costs. That happens to be the huge financial the heir’s financial burden. One way you can ensure your family members won’t be left in financial limbo is to take exact cost of administering an estate without a will. With a will, legal costs decisions. out a term life insurance plan. Term life insurance lasts for a set amount of time (perhaps until your children are through are about $3,000. Had their family college or until a spouse hits retirement age) whereas if you member drawn up a will, they would were to pass during that term, your family would receive the have had money left over to help with the bills. money from the plan you chose to keep them afloat. Since term life insurance

If minors are involved, the court will determine is for a certain amount of time instead of staying with you until death, it is where they go even if there is a verified will. However, much more affordable than comprehensive life insurance. the will plays a very influential part in that decision and “The nice thing about life insurance, and any financial account like a can make the process much easier for family members 401(k), is that it is outside of probate, so you can get paid on that immediately

and it can help fund what needs to be done on the probate side,” says Hailey-Petty.

She recommends getting a life insurance policy outside of work. If your job offers an affordable plan, it’s worth it to pay for it, but that shouldn’t stop you from shopping for a plan on the open market as well. If you lose your job, your work-tied life insurance plan will also go, and if you happen to be 50 or older, the cost of getting a new plan will go up dramatically. The younger you are, the better chance you have of locking in an affordable rate.

In some cases, it might be wise to create a trust, which will help your family avoid the probate process altogether. It’s more expensive to create than just a will alone, and it takes some work to maintain, ensuring you add to it whenever you buy or sell assets, but it will allow your family to avoid the court system and legal fees when you pass. An attorney can help you determine if a trust makes sense in your specific situation.

The first mistake many family members make when a loved one passes is to start paying the deceased person’s bills that may come in the mail. While the court’s job is to make sure valid claims from creditors get paid, the process to file those claims is usually arduous enough that most credit card companies don’t even bother. That isn’t to say all debts will be forgiven, but don’t assume that there is nothing to inherit just because there may be a lot of credit card debt. The first step should be to talk to an attorney that will tell you what needs to be paid (electricity, homeowner’s insurance, car insurance) and what you can let slide during probate (credit card bills). During this initial consultation, the attorney will also help you determine if you need to go to probate or if the estate qualifies for a more simplified probate, which is much more affordable.

The final thing family members should avoid doing in the midst of grieving is making huge financial decisions, determining who takes care of all the arrangements and start racking up debt they may not be able to pay off in order to cover funeral costs and legal expenses. If you become incapacitated, you also want someone you know and love to make decisions that are in your and your loved ones’ best interests. Through a last will and testament, you can give your loved ones peace of mind and guidance when they need it the most.

“Information is power, the not knowing is devastating.” 512.246.9889 shespiespi.com

Many of us experience the pain, bloating and mess of menstrual bleeding from uterine fibroids. For some women, symptoms from fibroids can impact quality of life. Finding the right treatment for you is key.

BY DR. CONNIE HSU Interventional radiologist at ARA Diagnostic Imaging

You may notice your menstrual periods are very heavy and that you bleed longer and even between periods. Women can develop anemia from heavy menstrual blood loss and experience devastating symptoms, including extreme fatigue and weakness. Fibroids can cause pelvic pain from severe cramping or from pressure on other organs. This pressure can cause back pain, frequent urination, bloating and constipation. Some women have pain during intercourse that interferes with their intimate lives.

Q & w Uterine fibroid embolization, also known as UFE, is a nonsurgical procedure for women with fibroids. It has been recognized by the American College of Gynecology to be a safe option for women who desire to keep their uterus. Very often, women end up having hysterectomies because they are not aware there are nonsurgical ways of both keeping the uterus and getting rid of fibroids. UFE is offered in both the outpatient and hospital setting. The procedure is performed with moderate sedation. We enter your circulatory system through a small nick in the wrist or the groin and guide a tiny catheter to both uterine arteries, where we deposit FDA-approved particles. These block the blood supply to all the fibroids at once, causing them to shrink with time just as they naturally would during menopause. Post-procedure, you’ll have just a small bandage on the entry point.

Uterine fibroids are growths in the uterine muscle cells. These are not cancerous but over time, they can grow to a large size and cause unpleasant symptoms. About 20 percent to 40 percent of women will develop symptoms related to fibroids by the age of 50.

With UFE, we usually ask patients to take off about a week, which is less than the necessary time off and recovery after surgical options. Plus, UFE is typically an outpatient procedure, so you get to recover in the comfort of your home.

The success rate for UFE is very high: 88 percent to 92 percent. Research has shown women have increased sexual function and improved quality of life after UFE. Fibroids treated with UFE do not grow back. New fibroids may emerge because of the same conditions that produced the original fibroids.

In this procedure, we use moderate sedation, so you will receive medication to control pain and relax you through your IV in order to have a positive experience. The first 48 hours after UFE can bring some pain and discomfort, which is managed with pain medication. The fibroids are no longer receiving blood, and this can cause cramping as they die.

UFE has a low complication rate compared with surgical options. With surgery, there is potential injury to the bowel, ureter or bladder and the possibility of causing adhesions (scar tissue) in your abdomen, which can bring problems in the future. Some surgical patients are at risk of developing hernias at the incision sites, which is not a risk with UFE.