PFLE.SS.9.K

Explain the importance of estate planning, including guardianship of minor children, wills, beneficiary designation, power of attorney, living will, and medical directives.

Personal Financial Literacy and Economics · Texas Essential Knowledge and Skills (TEKS) · TEKS 2010

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Vocabulary
estate planningguardianship of minor childrenwillsbeneficiary designationpower of attorneyliving willmedical directives
Skills
  • explain (the importance of estate planning) #dok2
  • explain (the purpose and components of a will) #dok2
  • describe (guardianship of minor children) #dok1
  • identify (documents associated with estate planning, such as power of attorney, living will, beneficiary designation, and medical directives) #dok1
  • distinguish (between different types of estate planning tools) #dok2
Learning Targets
  • I can identify documents and tools used in estate planning, such as wills and living wills. #dok1
  • I can describe the components involved in estate planning and their purposes. #dok1
  • I can explain the importance of estate planning for individuals and families. #dok2
  • I can explain how a will, power of attorney, and medical directives work to protect assets and determine wishes. #dok2
  • I can distinguish between different types of estate planning documents, such as living wills and wills. #dok2
  • I can analyze scenarios to recommend appropriate estate planning actions, such as guardianship or beneficiary designation. #dok3
Big Ideas
  • Estate planning helps ensure that a person's wishes are followed and protects individuals and families from complications or disputes.
  • Key estate planning documents—such as wills, power of attorney, and medical directives—are essential for asset distribution and decision-making in times of incapacity.
Essential Questions
  • What is estate planning, and why is it important for everyone, regardless of wealth?
  • How do wills, power of attorney, and living wills serve different purposes in estate planning?
  • What could happen if someone does not have a plan or the right documents in place?
  • Who needs to consider guardianship of minor children or designate beneficiaries?
  • How do medical directives protect your wishes regarding health care decisions?