When it comes to planning for your family’s financial future, there is no better choice than to begin estate planning. While some people may choose to do this on their own, we know that quite a few problems can arise when this happens. Estate planning attorneys have special training and have a strong understanding of Texas laws. Here are the top reasons you should consider hiring an estate planning attorney for your will:
Every state, including Texas, has a minimum asset requirement from probate. That means that if you were to give away all your assets, including property and vehicles, or you have been living in an assisted living facility for awhile, it is quite unlikely that the total assets will be enough for probate. The only items that will require attention are personal items that the family will receive. However, if you know that you still own your Denton home or an expensive car, the estate is required to enter probate. If you want the probate process to run smoothly, then the will must meet Texas’s legal drafting requirements. If you want to ensure that the will meets these, you will need an estate planning attorney.
Business and Portfolio
If you are a business owner or you are a participant in a joint business, this can make things more complex. This is especially the case when it comes to distributing business assets or moving ownership to someone else. Most business owners fail to make who should succeed them clear, and as a result, there can be quite a mess to clean up legally. If you would like to accurately pass on a business without any confusion, there are some very strict legal phases you must go through. We highly recommend contacting an attorney if you are involved in business ownership at all.
While you might be inclined to think that lawyers only draft up legal documents for the distribution of your assets, but this isn’t the case. Estate planning lawyers can help make your burial wishes clear. They can also draft powers of attorney and medical care wishes if you so choose. Whatever your choices may be can be legally recorded, even if you are not able to make them when you really need to. With all of this documented, there is no question what will happen when it’s time to receive serious medical care. Also, it can be hard for families to decide what to do with their loved one’s remains. If you address this in a will, then they won’t need to worry about making such a tough decision—you’ve made it for them. Also, your estate planning lawyer will know the Texas state requirements when it comes to legal and medical documents. They will know what documents needed to be filled out and present in order to have your final wishes met.
While you may think that estate planning is better left to people who are about to retire, you would be incorrect. Many young families do not realize how important it is to choose a guardian and put it into writing. While you might be able to draft these documents on your own, you also need to think about a trust for your children. Depending on your situation, it might be necessary for you to choose one guardian and another person to be in control of the future assets for the children. These issues can be complicated, which is why we recommend letting an attorney handle these documents. If anything should happen, the attorney can handle any concerns with children who are still minors.
Law Offices of Jimmy Carter
When it comes to being prepared for the worst, it never hurts to plan ahead. That’s why our team is here to help you. We want you to be able to look towards all possible futures and feel that your loved ones are adequately cared for once you are gone. We understand how important it is that your final wishes are both clear and followed, which is why we are here to help. Contact Law Offices of Jimmy Carter today to learn how we can help you as you determine what will happen to your Denton estate.