Areas of Practice
Texas Estate Planning Law
Whether or not you have a high net worth estate, you have assets worth protecting. The size of your estate isn’t the sole determining factor for needing an estate plan. While it’s true that larger estates often have more complex tax and distribution issues, everyone can benefit from careful planning, because at some point, someone else will have to deal with what we leave behind.
If you do not have an estate plan, the State of Texas has one for you, although it may not be what you would have wanted to happen. Dying without a will in Texas can be complicated and expensive, and usually requires going to probate court to sort it all out. You can avoid the stress of the unknown by reaching out today and taking control.
Here are some key factors to consider in estate planning:
- Asset complexity: The nature of your assets, such as real estate, businesses, or retirement accounts, can influence what kind of documents we use in your estate plan.
- Family dynamics: Complex family relationships or blended families may require specific estate planning strategies.
- Healthcare wishes: An estate plan includes directives about your medical care preferences, which are crucial regardless of estate size.
- Guardianship: If you have minor children, designating a guardian is essential.
- Avoidance of probate: Probate can be time-consuming and costly, so estate planning can help minimize or avoid it entirely.
- Protection for Loved Ones: An estate plan ensures your wishes are carried out, protecting your family from potential disputes and financial burdens.
- Providing for Minors: If you have minor children, an estate plan designates a guardian and outlines how their financial needs will be met.
- Peace of Mind: Knowing your affairs are in order can provide significant peace of mind for you and your family.
Ultimately, the best way to determine what your estate plan should consist of is to consult with an estate planning attorney. They can assess your unique situation and provide tailored advice.
Will or Trust
Ancillary Documents
– Durable Power of Attorney (“Financial Power of Attorney”) : This document appoints someone you trust (your agent) to handle your financial matters if you become incapacitated.
– Healthcare Power of Attorney (also known as a Medical Power of Attorney or Healthcare Proxy): This document designates someone to make medical decisions on your behalf if you’re unable to do so.
– Advanced Directive to Physician (also known as a “Living Will”): This document outlines your preferences for end-of-life care, such as whether you want life-sustaining treatment.
– HIPAA Release This document authorizes hospitals and other medical professionals to communicate and share your medical records with the people you designate. The HIPAA Release is effective for up to two years after your death, allowing those named to obtain your medical records for insurance, litigation, or other purposes.
– Declaration of Guardian in the Event of Incapacity: The Declaration of Guardian allows you to nominate who you would want as your guardian in the event one must be appointed for you. This document also allows you to disqualify anyone you would not want appointed, and the court is barred from appointing them.
– Appointment of Agent for Disposition of Remains: A relatively new addition to estate planning, this document gives an agent of your choice the legal authority to tell a hospital and/or funeral home what to do with your remains. This avoids conflict when burial or cremation arrangements have not been made in advance, and there may be a dispute amongst family members on what arrangements to make.
Will or Trust? Considerations…
● Probate of Wills
○ Executor, Administrators, Beneficiaries, Heirs, Surviving Spouse
● Intestate (“No Will”) Probate
○ Determination of Heirship
○ Small Estates Affidavit
○ Affidavits of Heirship
● Special Needs Trusts, Elder Law, Medicaid Planning
● Texas Will Contests
● Breach of Fiduciary litigation (Plaintiff and Defendant)
● Texas Guardianship Law, including creation of guardianship for an adult and guardianship disputes
● Small Business Formation and Business Contract Review