Planning for the future?
Your family’s security is of utmost importance when thinking about what will happen after you are gone. Sure, it is not the most enjoyable thing to think about, but making a plan will ensure your wishes are carried out when you can no longer speak for yourself. A Texas City estate planning attorney at Your Legacy Legal Care is ready to address your unique needs regarding estate planning strategy. We will help you gain some peace of mind. Give us a call or schedule a initial strategy session. We will walk you through the complex estate planning process—one step at a time.
Texas City Estate Planning Attorney Services
Probate refers to the court-supervised process that happens after a person dies. The probate court examines the individual’s estate, and the judge reviews any estate planning documents—like wills—that exist for the deceased. During the process, an executor is established, creditors are paid, and assets are distributed to beneficiaries of the estate. The probate process can often be lengthy and costly for the loved ones of the deceased. A probate lawyer can help mitigate any probate law issues during the process and ensure everything goes smoothly.
A will is one of the most common estate planning documents included in estate plans. It is a legal document that outlines your wishes and is signed by yourself and witnesses. A will can consist of various things, including how you want your asset distribution handled, your beneficiaries, and who will care for your minor children or dependents. An experienced estate planning lawyer can help you draft a will that is legally binding and effective for carrying out your wishes.
Living trusts are another popular estate planning tool, and they allow you to set aside certain assets with a third party known as a “trustee.” The assets or property put into a trust are often protected from creditors and probate when the time comes for your estate to be settled. This means your heirs will receive those assets quickly and privately. A trust attorney can help you decide which type of trust is best for your needs—whether it is a revocable trust or an irrevocable trust—and set up your trust document for you.
Special Needs Planning
When you have a child with a disability, there is much to consider when planning for the future. If something were to happen to you, you want your child to be safe, secure, and cared for. Special needs planning employs estate planning tools like special needs trusts to ensure your loved one has the funds they need without losing crucial government benefits.
Long-term Care Planning
As we get older, we need more care, and those needs become constant toward the end of life. However, facilities that provide long-term care are expensive and could easily make you and your loved ones go broke trying to ensure you are cared for. Long-term care planning uses estate planning strategies and tools like Medicaid planning and trusts to protect your assets and ensure you qualify for the long-term care assistance you need as you age.
Experienced Estate Planning Lawyers Serving Texas City, TX
Your Texas estate planning attorney is arguably the most valuable resource available. Your Legacy Legal Care is a team of experienced, honest lawyers who will find the best plan for your unique situation.
Estate planning law is our focus, and we offer services in the following related practice areas:
- Asset protection
- Business succession
- Probate law
- Elder law
- Medicaid planning
- Special needs planning
- Long-term care planning
- Children’s Safeguard Program
- Family law
FAQ: Texas City Estate Planning
What assets should be considered when planning your estate?
- Savings account and checking account balances
- Retirement plans
- Investment accounts
- Stocks, bonds, and mutual funds
- Life insurance benefits
- Cryptocurrency and other digital assets
- Real estate equity
- Business investments
Do estate planning lawyers litigate?
If an estate planning case were to go to trial, an estate planning lawyer could provide legal services and legal representation to the estate or whoever is challenging an aspect of the estate’s handling.
Some common reasons for litigation in a probate case are:
- The deceased had no will, and there are multiple claims to inheritance
- Someone is challenging the validity of the deceased’s will
- There is an issue with the administrator or executor of the estate
What are the five components of estate planning?
Among the various estate planning documents available out there, here are the five most important ones to focus on:
- A last will and testament makes your wishes known in the form of a signed legal document, avoiding legal issues and ruined family dynamics due to disputes.
- A living trust can protect your assets from creditors and probate.
- A statutory durable power of attorney designates someone you trust to handle your financial affairs when you can no longer.
- A medical power of attorney designates someone you trust to make medical decisions based on the terms you have outlined.
- Advanced healthcare directives outline your wishes regarding end-of-life medical decisions and how you want your healthcare handled when you can no longer speak for yourself.
Contact a Team of Knowledgeable Texas City Estate Planning Lawyers
Everyone loves to plan for the joys of the future, but it is not as pleasant to prepare for when you are gone. Even so, having an estate plan can bring you and your loved ones some much-needed peace of mind, and Your Legacy Legal Care can help. Our attorneys are experienced in Texas estate planning law and committed to giving quality legal counsel to our clients. We will advocate for you and what you want to occur when you pass on or become incapacitated. If you need estate planning services in Texas City, TX, let an experienced estate planning attorney at Your Legacy Legal Care walk you through the process with a initial strategy session.
You can give us a call or visit one of our offices in person: