Working with an Estate Planning Attorney – The Basics
Have you thought about meeting with a Dallas estate planning attorney?
Making end-of-life arrangements is important for everyone. Without an estate plan, the laws and courts in Texas will decide who inherits your assets and who raises your children when you pass away. Plus, you’ll have no control over what happens in the event you become incapacitated
Getting your affairs in order while you’re of sound mind is one of the best things you can do, both for yourself and the people you love. But getting started can be intimidating – and that’s where an estate planning attorney comes in. With a qualified Dallas legal professional in your corner, you’ll have a much easier time creating an iron-clad estate plan. Keep reading to learn more.
What Do Estate Planning Attorneys Do?
Estate planning attorneys are licensed professionals who specializes in end-of-life legal matters. So are estate lawyers, estate attorneys and estate planners – these experts go by several names. In any case, their advice is invaluable. No one comprehends the complexities of this area of law better than an estate planning attorney.
These legal professionals assist Dallas residents in many ways, but creating legal documents that form the cornerstone of an estate plan is one of their primary responsibilities. The documents they routinely draft include:
Last will and testament – A document that designates the executor of an individual’s estate, names a guardian for any minor children and provides instructions on how their assets should be handled after death.
Living will – An advance healthcare directive that relates an individual’s preferences regarding medical care and resuscitation efforts in the event they become incapacitated and unable to communicate.
Power of attorney – A legally binding document through which an individual appoints an agent and gives them the authority to make financial or medical decisions on their behalf when they cannot.
Trust – A legal agreement that allows an individual to transfer assets into the care of a designated trustee, who manages the assets, acting in the best interests of the beneficiaries named in the document.
Estate planning professionals also assist clients with other tasks related to end-of-life arrangements. Depending on your situation, you might call on a Dallas estate attorney to guide you in:
Deciding how to divide up your assets among your loved ones
Determining who should serve in the capacity of will executor
Protecting the assets of your 401K or other retirement plan
Drafting a letter of instruction that outlines your funeral preferences
Establishing a succession plan for a company or business you own
Finding effective solutions for minimizing estate tax liability
Identifying potential options for avoiding the Texas probate process
Why Work with an Estate Planning Attorney?
Do-it-yourself estate planning tools are available online, many of which are free or come at a low cost. But while these resources are undeniably convenient, they’re often unreliable – and using any to create your estate plan documents could lead to issues down the line.
Working with an estate planning attorney is the best way to ensure that everything about your end-of-life arrangements is airtight. Consider the benefits of teaming up with an estate lawyer:
They have an in-depth understanding of federal and state laws regarding wills, trusts and other aspects of estate planning.
They can explain the various options for a legally sound estate plan and offer insight on how to achieve your goals.
They are prepared to help you navigate potentially thorny issues, like child custody or the rights to digital property.
They have what it takes to ensure the estate planning process goes smoothly, while meeting all legal requirements.
They can regularly review your estate plan and guide you in making updates as circumstances in your life happen to change.
Everyone in Dallas, Texas, could benefit from working with an experienced estate planning attorney. At the same time, consulting with a legal professional is particularly important if you:
Own a residential or business property in another state
Have a divorce or child custody agreement in place
Share children with someone, but aren’t legally married
Are remarried and providing for a blended family
Have a health condition that puts you at risk for incapacity
Creating a basic will, trust or power of attorney document is possible on your own. That said, mistakes are all too easy to make – and online tools aren’t a good fit for complex situations. For a comprehensive estate plan that is tailored to your needs and accounts for the various legalities that affect asset distribution in Texas, working with an experienced estate planning attorney is the only real option.
Schedule a Free Consultation with Schultz and Kellar
No one likes to think about incapacitation and the end of life, but protecting your legacy can provide you with peace of mind – and for expert legal guidance in the Dallas-Fort Worth metroplex area, Schultz and Kellar, PLLC, is the right choice.
We have extensive knowledge in the realm of estate planning, and we also have a team of skilled professionals with expertise in financial planning, wealth transfer strategies, asset protection and real estate transactions. We’re always happy to answer questions, and we’re ready to provide the advice you need. To arrange for a free consultation with one of the best estate planning attorneys in Dallas, Texas, contact us today.
