ESTATE PLANNING ATTORNEY SERVING FRISCO AND PLANO, TEXAS
Are you worried about what will happen to your belongings after your death? Do you have a plan in place to take care of your family? I offer estate planning in Richardson, Texas and the surrounding areas. I'm ready to sit down with you to discuss your goals and wishes while keeping your best interests in mind throughout the process.
Allow me to walk you through the process of:
preparing crucial estate planning documents,
decreasing problems and expenses that occur in probate,
transferring your assets to the proper heirs,
evaluating and recommending estate planning options, and
arranging the management of your estate if you can’t.
DO YOU REALLY NEED AN ESTATE PLAN DESIGNED?
Even if you don't think you need an estate plan, if you own property or assets, you should definitely consider getting one. The whole point of an estate plan is to create an official document of your final wishes, what you'd like to see happen with your things after you die. Creating one can spare your family from having to sacrifice precious moments honoring your life to handle your affairs. An estate plan also pinpoints who you want to be in charge of making sure things are distributed as they should (also known as an executor).
WHAT TYPES OF DOCUMENTS DO YOU NEED TO CREATE AN ESTATE PLAN?
In Texas, your estate plan should include all of the following documents:
Your will. Who do you want to leave your assets to? Who is your executor?
Durable Power of Attorney. Who will handle your finances, if necessary?
Living Will. Who will communicate your final wishes? (This is also called a Directive to Physicians and Family or Surrogates document. It's also known as an Advance Directive.)
Medical Power of Attorney. Who is in charge of making sure your desires in terms of health care are honored?
Probate-Avoidance. (optional) Do you want to avoid probate court? If so, you'll need to create a document that gives someone permission to transfer your belongings to their inheritors. This can also be established in a Living Trust.
WHAT HAPPENS IF YOU DON'T HAVE AN ESTATE PLAN DESIGNED?
If you pass away without having the proper documents officially filed, then you put your family and loved ones at risk of having to deal with daunting, meticulous tasks that really shouldn't be their responsibility to look after. Moreso, who gets what won't be determined by your people — it'll be determined by the court system.
WHAT IF YOU WANT TO MAKE CHANGES TO YOUR ESTATE PLAN?
Revising your estate plan is not a problem at all. As life goes on and relationships evolve, there may be several reasons why your estate plan needs to be updated. Some reasons for updating an estate plan include:
having a baby
someone who was listed in your plan dies
buying new property or assets
no longer owning certain property or assets
a major shift in financial status or tax status
ESTATE PLANNING ATTORNEY IN RICHARDSON, TEXAS
Give your family, friends, and loved ones the proper time and space they need to grieve your loss by creating an estate plan. Not only is it a gift to them, but it's also a gift to yourself as it establishes the peace of mind you need in knowing your affairs are handled and secure. If you're in the Richardson, Plano, or Frisco, Texas, areas, allow me to help. Get in touch to schedule a consultation today.