It can be difficult to talk about how you want your assets to be distributed after your death. Under Texas law, it can also be complex, confusing, and overwhelming.
At The Reecer Law Firm, P.L.L.C. , we use our years of practical experience to work diligently with each individual client to develop personal strategies that will meet that person’s specific estate planning needs. There is no one-size-fits-all plan.
Our firm was founded by attorney Dena A. Reecer, who is Board Certified in Estate Planning and Probate Law by the Texas Board of Legal Specialization. Our mission is to give you the personal attention you deserve.
Benefits of Having an Estate Plan
The purpose of estate planning is to provide legal protection to you and your heirs. Specific benefits include:
- Your assets are distributed according to your wishes.
- Can be structured so that taxes and probate costs are minimized.
- Reduces family conflict by making your wishes clear.
- Ensures your end of life wishes are followed.
- Gives you peace of mind knowing you have done what is best for your family.
- Protects assets for future generations.
Overview of Valuable Estate Planning Tools
There are many estate planning tools that can be used depending on your personal needs. Examples include:
Wills. You put in writing exactly how you want your assets distributed upon your death. If you die without a valid will, your assets will be distributed according to Texas law no matter how much evidence there may be to show you had a different intent.
A will must be admitted to probate. The probate court will oversee the distribution of assets to make sure your wishes are followed.
Trusts. There are revocable and irrevocable trusts. Your assets may be owned by the trust and transferred to your heirs upon your death without going through probate.
Health care power of attorney. You designate someone you trust to make healthcare decisions for you if you are unable to make them for yourself. HIPAA documents give your designated person access to your medical records and authority to speak to your healthcare providers.
Power of attorney. You designate someone you trust to make financial decisions for you when you are unable to make them for yourself. This allows that person to manage your assets, deal with the IRS, and more.
Advance directive. Specifically articulates the end-of-life care you desire. For example, under what circumstances do you want a “do not resuscitate” order? A feeding tube inserted? Life support removed? Your wishes must be followed.
Guardianship and children’s trusts. You designate a person you want to physically care for your minor children upon your death. You may designate the same person, or a different person, who will manage the finances for the children. You may need a Special Needs Trust to care for a child with special needs.
Contact Estate Planning Attorneys at The Reecer Law Firm, P.L.L.C.
Our attorneys at The Reecer Law Firm, P.L.L.C., can help you with any of these documents and determine what other estate planning tools might be used for your unique situation. You can contact us online or call 940-382- 3168 to schedule a consultation.
You may also want to use our Estate Planning Questionnaire which is a useful tool for creating estate planning documents. It will assist you in identifying heirs, assigning agents to powers of attorney documents, listing your assets, and more.