Estate Planning

Many Texans believe that estate planning is either for the “wealthy” or for the elderly, however, Estate Planning is a critical consideration for everyone and is just as much about the present as it is about the future. 

Estate Planning takes into consideration a number of important matter including:

• Inheritance Planning
• Incapacity Planning
• Charitable Planning
• Legacy Planning
• Special Needs Planning
• Tax Planning

As no two people or families assets are the same, Estate Planning should be tailored to the needs and desires of each individual or family. Our Firm focuses on providing a complete and versatile plan likely to include most or all of the following: 

• A Will/Wills;
• A Living Trust;
• A statutory durable power of attorney for property;
• A medical power of attorney;
• A directive to physicians and family or surrogates (a "living will");
• A declaration of guardian if the need later arises;
• A declaration of guardian for minor children;
• A HIPAA (medical information) authorization;
• A funeral directive; and,
• Instructions on coordinating non-probate assets like life insurance and retirement plans with the rest of the estate plan.

Schedule a consultation today to review your current situation and future needs and desires so that we can tailor a plan specific to you and your family. 

Every adult in Texas who is of sound mind has the ability to create a Will, which is a legal document that sets forth how they desire that their assets be distributed upon their passing. An individual who passes without a Will (intestate) loses the right to control the distribution of their estate as it becomes up to a Court to determine how assets are to be distributed. This all too frequently leads to disputes between family members. Having a statement of your intents and desires in place can help avoid negative issues and provide your loved ones security and peace of mind. 

A Will must meet the following basic legal requirements to be valid and enforceable: 

1. It must state to whom you want your estate to go;
2. It must outline how you want your property distributed;
3. It should appoint an executor (the person who is to oversee administration of your estate and carry out your wishes);
4. It should clearly explain the extent and limitations of the executor’s powers;
5. It should indicate any special provisions for bequests to minors or others who may require a guardian; and,
6. The drafting, execution, and witnessing of the will must strictly confirm to the requirements of state law.  

Even if you already have a Will, it may be necessary to review and update it to account for new circumstances, such as:

• You have had a child
• You have been divorced or remarried
• Once of your heirs has predeceased you
• You have had a substantial change in your assets, including:
  • The purchase or sale of a business
  • The purchase or sale of real estate
  • You have come into a sudden windfall of wealth

If you wish to formalize your intentions and desires, contact Our Firm today and schedule a consultation to discuss your planning needs. 

Living wills and other Advance Directives are written, legal instructions regarding an individual's preferences for medical care if they become incapacitated or are otherwise unable to make decisions for them self. Advance Directives guide choices for doctors and caregivers for those who are terminally ill, seriously injured, in a coma, in the late stages of dementia or near the end of life. 

A living will is a written, legal document that sets out medical treatments the individual would and would not want to be used to keep them alive and preferences for other medical decisions, such as the following:

• pain management 
• mechanical ventilation
• tube feeding
• comfort (palliative) care
• resuscitation orders
• organ donation

Now more than ever, Advance Directives are important for everyone, not only for older adults. Unexpected end-of-life situations can happen at any age, so it's important for all adults to prepare these documents.  By planning ahead, you can get the medical care you want, avoid unnecessary suffering and relieve caregivers of decision-making burdens during moments of crisis or grief. You also help reduce confusion or disagreement about the choices you want people to make on your behalf.