Practice Areas

Estate Planning

What is Estate Planning?

Estate planning may sound like something only the wealthy or elderly need to do, but it’s actually critical for anyone who has possessions they care about—like finances, land or buildings and even pets—and who wants to make sure those assets go to the right people, should something happen to them.

Why is Estate Planning Important?

Imagine you have a good amount of money saved up, a pricey car, and other valuable assets, but you didn’t leave any instructions about what should happen to them if you pass away. Lacking an official estate plan, the government may step in and unilaterally decide what happens to your belongings…and they might not go to the people you want. This is why planning ahead is so crucial—it keeps you in complete control.
If you die in Texas without good estate planning, dealing with your estate can be expensive and stressful for your loved ones, and take a long period of time in Dallas County.  This is why having an estate plan in place, even a simple will, is as important, or maybe even more important, to families of modest means as it is for more wealthy families.

Elements of an Estate Plan

1. Wills: A will is one of the most powerful tools you have to control who inherits your assets. It’s your voice when you can’t be there — telling your loved ones who is gifted what, after you pass away. A will can also specify person who you do not want to receive a portion of your assets.  It’s also the document you use to name an executor, the person who represents you after your death..
2. Trusts: A trust manages your assets and ensures they go to the specific people you want after you’re gone. Trusts are especially useful if you want to make sure someone handles your assets accurately; that is, how you want them handled.
3. Power of Attorney: This is where you select someone you trust to make decisions for you if you can’t do it yourself. For instance if you were in an accident, mentally unable to make decisions for yourself, or perhaps even while you’re on an extended trip. This person will take care of things like paying your bills and/or managing your bank account.
4. Advance Healthcare Directives: These are instructions you leave about what kind of medical care you want if you can’t speak for yourself. It’s like a formal notification for your family and doctors, “This is what I want, and this is what I don’t want.” Advance Healthcare Directives include Medical Powers of Attorney and Directives to Physicians among other documents.
5. Beneficiary Designations: This is where you indicate which people you want to inherit things like your bank accounts, life insurance or retirement accounts. if you pass away. It’s vital to keep these up to date because they’re incredibly powerful—these designations can even override what’s written in your will and other estate planning documents; therefore, it is important to coordinate beneficiary designations with your estate planning.

How a Dallas Estate Planning Attorney Can Help

An estate planning attorney is a professional who will guide you through the process of planning what happens to your estate after your death and help you sort it all out. They’ll make sure everything is documented correctly so your plan works the way you want. Plus, they can help you navigate how other laws might affect your plan.

Updating Your Estate Plan

Life is unpredictable—you might get married someday, have kids, or buy a house. When big things like that happen, it’s smart to update your estate plan so it still applies to your current life. An estate planning attorney can help you make sure everything stays on track.

Conclusion

Taking the time to plan your estate ensures your assets go to the right people and that your specific wishes are followed if something happens to you. This kind of planning is not just for the elderly or the extremely wealthy—it is for anyone who cares about what happens to their assets, that they go to the people they love, and taking care of their loved ones. Partnering with a Dallas estate planning attorney can make sure that your assets, property and financial benefits are passed along to the loved ones you choose and that your loved ones are taking care of after your death.

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At the Law Office of ********, we’re passionate about helping our clients solve often complex probate, estate, inheritance and family law issues.

If you or a loved one has needs legal guidance on proate, estate or family law issues, please contact our attorneys so we can discuss your options.

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Frequently
Asked Questions

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Probate is a legal process. One that is triggered once someone has passed away. Probate’s the method by which a court formally recognizes the death and oversees the administration of the deceased’s estate.
Probate makes sure that the deceased’s final wishes are accurately honored, their assets are distributed the way the deceased intended, and that any of their outstanding debts are settled. By better understanding how probate works, much of the stress and worry about assets can be alleviated. As a Dallas probate law firm, we can help you understand all of the details involved with probate.

Simply put, probate is the legal process which involves the court recognizing a person’s death and helps oversee the administration of deceased’s estate. Without a Will present, this process is referred to as “intestate probate.” Intestate probate means that the court will determine how to distribute the deceased’s assets in alignment with Texas state laws, rather than according to the deceased’s specific wishes.

Heirship determination is a legal process used to identify the heirs of an estate when a person dies without a valid will or when there are disputes about the will’s validity. The probate court will review evidence to establish who the legal heirs are according to Texas intestacy laws.

Inheritance law governs how an individual’s estate is distributed after their death. In Dallas, as in the rest of Texas, inheritance laws are designed to ensure that assets are distributed fairly and according to the decedent’s wishes, or, if there is no will, according to statutory guidelines.

Estate planning may sound like something only the wealthy or elderly need to do, but it’s actually critical for anyone who has possessions they care about—like finances, land or buildings and even pets—and who wants to make sure those assets go to the right people, should something happen to them.

Imagine you have a good amount of money saved up, a pricey car, and other valuable assets, but you didn’t leave any instructions about what should happen to them if you pass away. Lacking an official estate plan, the government may step in and unilaterally decide what happens to your belongings…and they might not go to the people you want. This is why planning ahead is so crucial—it keeps you in complete control.
If you die in Texas without good estate planning, dealing with your estate can be expensive and stressful for your loved ones, and take a long period of time in Dallas County.  This is why having an estate plan in place, even a simple will, is as important, or maybe even more important, to families of modest means as it is for more wealthy families.
Family law encompasses legal matters that involve familial relationships, such as marriage, divorce, child custody, termination of parental rights, adoptions and more. It also includes cases like prenuptial agreements, domestic violence, and child support. Dallas family law is designed to handle these delicate and often emotional issues with fairness and justice.
In Dallas, family law is governed by both state and local rules. The Texas Family Code provides the framework for resolving family disputes, but local courts in Dallas may have specific rules and procedures that must be followed. This is where a seasoned Dallas family law attorney can provide crucial guidance.  Dallas family cases also must adhere to requirements of the Texas Property Code, Texas Rules of Civil Procedure and other bodies of law.

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