As you progress through the various stages of life, you have gained a wonderful family and amassed significant assets.
What will happen to all you have worked for once you have passed away?
It is not always comfortable to talk about death, but figuring out what to do with your assets once you are gone will help protect your family. Estate planning is the process of preparing for the future, including end-of-life care, asset management, and incapacitation planning.
If you have not started working on an estate plan, then now is the time to do so. When creating an estate plan, it is helpful to have an experienced and compassionate estate planning attorney on your side.
Do you need help creating an estate plan that best suits your family’s needs? If so, contact a Deer Park estate planning attorney from Your Legacy Legal Care™ today.
Call now to schedule a strategy session with our family law and estate planning firm.
Knowledgeable Estate Planning Attorneys Serving Deer Park, Texas
While creating your estate plan, one of the most valuable resources you can have is an experienced estate planning attorney. At Your Legacy Legal Care™, we are compassionate and knowledgeable about Texas estate law.
Here are some estate planning legal services we can help you with:
- Asset protection
- Business succession
- Elder law
- Medicaid planning
- Special needs planning
- Long-term care planning
- Children’s Safeguard Program™
- Family law
FAQ: Estate Planning in Deer Park, Texas
When should I start estate planning?
There is no set time you need to start estate planning. However, some people create an estate plan as soon as they have assets in their name or when they start a family. Another rule of thumb is to create an estate plan before aging affects your everyday life. In fact, you should have an estate plan in place to help you prepare for end-of-life care or incapacitation.
Ultimately, it is never too early or too late to start estate planning. The sooner you start to prepare, the more prepared you will be for the future.
How often should I update my estate plan?
It is important to review your estate plan periodically, as your needs will change over time. A general guideline is to update your estate plan every three to five years. You should also review your estate planning documents when a major life event occurs, such as marriage, divorce, or having a child.
What is the difference between a will and a trust?
A will is a legal document that states how you want to distribute your assets once you have passed away. You can also appoint an executor of your estate and guardians for your minor children in your will. Wills are great options for those who may need a simple, outright disposition of assets at death.
A trust is a fiduciary relationship between a grantor, trustee, and beneficiary. The grantor creates the trust and transfers the trust funds to the trustee. Once the transfer is complete, the trustee is responsible for the funds, and they will distribute the funds to the beneficiary as defined in the trust.
Trusts come in many variations to accomplish different needs, and may be a great option for those who: would like a more sophisticated disposition of assets at death, would like their estate to remain private, are planning for a child with a disability, or are in subsequent marriages or have blended families.
Deer Park Estate Planning Lawyers You Can Count On
When creating your estate plan, you need an attorney who has your best interests in mind. At Your Legacy Legal Care™, we care for our clients, and our goal is to help them protect their assets.
We understand that estate planning can be overwhelming and even uncomfortable. We are here to guide you and help you make informed decisions about your future.
If you are interested in creating an estate plan, call an experienced attorney from Your Legacy Legal Care™ today.