Estate planning – is it really necessary? Many do not believe in estate planning especially before the age of 60 or 70. We always think that we have enough time to take care of our estates and other assets when we are older. Our busy lives prevent us from sitting down with a Houston estate planning attorney and carefully plan what to do. What’s more, many are not so keen about thinking of their own mortality. However, as much as we hate to think about it, it is the responsible thing to do for our children, spouses and other loved ones.
As owners of real properties, you need to be aware that there are often conflicts between families after the death of a family member. In the event that there was no estate planning and no will, they may disagree with each other on who is to receive which property, money or belongings. These disagreements usually lead to lawsuits. So, how do you avoid this? The first step is to contact an experienced Houston estate planning attorney who can help you with your estate planning. How?
* A Houston estate planning attorney can help you divide your assets exactly the way you want it. You should divulge to him all the assets that you own and where they are located so he can make the necessary arrangements.
* Your lawyer can also help you with preparations regarding who will manage your estates if you reach a point of incapacity. This is very important, especially if you own several properties. There are unfortunately unscrupulous people who will try to influence a person who is incapacitated in order to take control of their assets.
* Many couples don’t consider how joint assets will be divided in their wills if they happen to divorce. The focus is usually on splitting things in the current day, rather than how possessions may be allocated in inheritance to their children. It can be beneficial to consider these issues during the course of a divorce, though. A Houston estate planning attorney will be able to explain how this works and walk you through the process.
* When an unexpected accident or illness occurs, having your minor children taken care of is of ultimate concern. Ensuring that their inheritance is protected while they are still underage is important, since they are likely unable to manage your estate on their own. While you may hope that your relatives or close friends would not take advantage of this situation, a Houston estate planning attorney can protect your assets so that they are given to your children as they should be and that their care is entrusted to the person of your choosing.
* If you hold properties in multiple states, it’s still best to start planning with an attorney experienced in probate law in your primary state of residence. A Texas resident can approach a Houston estate planning attorney for assistance in ALL estate planning matters, including how to pass on property that is in other regions of the country.
Planning for the future of your children and giving them security are the greatest things that we can give them. An experienced Houston estate planning attorney can make all that possible.
Don’t put off talking to a Houston estate planning attorney any longer. Contact Jones Morris Klevenhagen, L.L.P., today and get help from experienced Houston probate attorneys as well as peace of mind knowing your loved ones will be taken care of.
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