You may believe that estate planning is unaffordable or that it is only for the very wealthy. These are both fallacies when you truly understand what an estate plan does. These plans are investments in providing benefits to your loved ones and about passing on your legacy in the manner in which you wish it to be distributed. You may be underestimating the value of the assets you have and the advantages of clarity, peace of mind, and legal protections that such a plan can bring to you and your family.
At the Law Office of Jason Brown, our Fort Worth, TX estate planning attorney is here to provide you with outstanding service and personalized attention. He knows that you and your family are unique, unlike any others, and that your estate plan should reflect that. Our firm creates estate planning instruments that are customized to your needs and goals and the distinct characteristics of your estate and your family dynamics.
Arrange a free initial consultation with our estate planning attorney in Fort Worth to discuss your goals. Contact us online or by phone at (817) 900-3892. We serve Texas throughout the greater Dallas-Fort Worth region.
How A Fort Worth Estate Planning Attorney Can Help
Our goal is to help you by making what can seem like an overwhelming task much more manageable. We are here to ensure that your estate will be handled and passed on as you wish. The first stage of this planning is preparation; our estate planning attorney in Fort Worth, TX, listens to you and creates a comprehensive plan that sets forth how you will transition your wealth. We also offer guidance on tax strategies to maximize your family’s wealth over time, as well as how to manage assets, set up trusts, and develop plans that cross jurisdictions.
Our Estate Planning Services
Estate plans can include the following legal documents and instruments:
- Wills. This is a foundational document that lays out how your assets will be passed on, names your heirs and beneficiaries, what and when they are to receive assets, sets forth funeral, burial, or cremation instructions, and names a guardian for any minor children you may leave behind to care for them and/or manage the estate you leave them.
- Trusts. Many types of trusts can be created as separate legal entities into which you fund assets to be managed by a trustee(s) and passed on according to your instructions after your passing. These legal instruments have many benefits, including the ability to bypass the probate process.
- Asset protection. Your assets can be shielded from legal judgments or the claims of creditors or former spouses through various legal devices.
- Powers of Attorney. These can authorize your named person to act on your behalf when you are unable to do so regarding financial matters or medical situations.
- Directives to Physicians. These are also known as “Advance Directives,” in which you set forth your wishes regarding future medical treatment/interventions should you be unable to communicate due to illness or injury.
- HIPAA waivers. In these waivers, you authorize the release of protected health information for specified purposes.
Can I Update My Estate Plan?
Your estate plan does not have to be permanent. Many estate plans are changed as circumstances change, evolving over time. It is a good idea to reassess your current plan throughout your life to determine if it still meets your needs. Divorce, marriage, the birth of children and grandchildren, and other events can require amendments to estate planning documents.
What Are The 5 Components of Estate Planning?
Planning your estate can be a difficult undertaking. There are many steps and procedures to follow when it comes to preparing your estate, including gathering necessary documents, deciding who or what organizations will be named as beneficiaries, and determining your end-of-life care and burial arrangements.
Below are 5 components typically found in an estate plan:
- Will and trust - these outline how your property will be distributed to your beneficiaries. A will can also name who will become the guardian of your children if they are not yet 18 when you pass away.
- Durable power of attorney - allows you to authorize a trusted person to handle all of your financial and legal affairs if you are not able to manage them yourself, temporarily or permanently
- Medicare or healthcare power of attorney - allows you to authorize a trusted person to handle your medical decisions when you are not able to make the decision yourself
- Living will and advance directive - tracks your choices for medical care in the event that you are unable to make decisions for yourself if you are terminally ill, are seriously injured, in a coma, near death, etc. This prevents you from receiving medical care that you do not prefer or relieves your loved ones of making burdensome decisions when difficult times arise.
- Beneficiary designations - be sure that your named beneficiaries are always up-to-date, especially being mindful of marriage, children, divorce, and other situations
Benefits of Estate Planning in Texas
Estate planning in Texas offers various benefits that can assist individuals and their families.
Here are some advantages specific to Texas:
- Organized Asset Distribution: Having an estate plan provides a structured approach to handling assets and ensures that they are distributed according to your wishes. This can help alleviate stress for loved ones, particularly in the event of unexpected death.
- Planning for the Unexpected: Estate plans go beyond end-of-life arrangements. They also help prepare for unforeseen circumstances, guaranteeing that your affairs are in order and your loved ones are protected.
- Wealth Preservation: An effective estate plan can help minimize estate taxes and preserve wealth, allowing more assets to be passed on to beneficiaries.
- Protecting Families with Young Children or Blended Families: Estate planning enables parents to designate guardians for their minor children and ensures that their care and financial needs are addressed. It is particularly crucial for blended families to clarify inheritance intentions and provide for stepchildren or other dependents.
- Avoiding Probate: Properly structured estate plans can help bypass the probate process or simplify it, reducing costs, delays, and potential disputes.
- Peace of Mind: Knowing that you have a well-crafted estate plan in place can provide peace of mind, both for you and your loved ones, by ensuring that your wishes are carried out and minimizing potential conflicts or legal challenges.
Need Estate Planning In Fort Worth, Texas? Call Law Office of Jason Brown at (817) 900-3892.
Not sure where to begin? One of the first things you can do is get in touch with a Fort Worth estate planning attorney at Law Office of Jason Brown. We have years of experience and can offer you sound legal counsel if you are looking to draft an estate plan. Ensure that your loved ones are taken care of and your wishes are taken care of after your passing by getting started on an estate plan.
Open communication between clients and attorneys lies at the heart of a successful and effective estate plan. This conversation allows both parties to build a mutual understanding so that intentions and wishes are made crystal clear.
The Law Office of Jason Brown helps you, your family, and your charitable organization to build a strong connection with our team so that your case can be handled to your satisfaction. It’s not always possible for us to understand all the situations and decisions that you or your family might be facing. However, through close communication, we can help you articulate and document your issues, thoughts, wishes, and goals, including those involving all of the extensive legal resources available for protecting your legacy through comprehensive estate plans.
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