Property Planning Lawyer Arlington TX
When planning for the future, a property planning lawyer Arlington TX residents depend on should be one of the first calls that you make. When making these plans, Brandy Austin Law Firm, PLLC, knows that you will have several questions that you need to be answered. You deserve to have an estate plan that not only gives you and your family peace of mind but leaves nothing up guesswork or chance. To learn more and have your questions answered, contact our firm today to get started.
What is an estate plan?
An estate plan is a critical tool when planning for a time when a person is no longer able to make decisions on their own. This can be as a result of a person’s incapacitation or death. When you are no longer able to make decisions on your own, you need to have a plan that your loved ones can reference. In the long run, this provides many advantages. It is made up of many critical documents outlining your final wishes, such as how property will be designated, naming your beneficiaries, identifying an executor, power of attorney, and more.
How is an estate plan different from a will?
Estate plans and wills are often used interchangeably; however, it’s essential to know that they are not the same. An estate plan encapsulates far more than a will. A will is just one document within the estate plan. An estate planning lawyer in Arlington, TX shares that a will is a document that explicitly outlines how your assets will be distributed after your passing. An estate plan includes critical documents that contain:
-Power of Attorney
What are the common reasons that an estate plan is necessary?
There are a variety of reasons that an estate plan is critical, including:
-Reduce familial conflict
-Minimize the assets that go through probate
-Ensure there is a plan for your children
-To plan for the unexpected
What will happen in Texas if I die without an estate plan?
If you die without a will in place, you have died intestate. When this happens, assets will need to pass through probate, and the laws of succession will determine how property is distributed. Typically, according to intestate succession laws, if a person dies with children and no spouse, the property is distributed to children. In situations where there is a spouse with no children, assets will go to the spouse. However, be aware, without a will or estate plan, conflict can ensue, and the process can become incredibly complicated.
At Brandy Austin Law Firm, PLLC, we have the best interests of our clients at heart. When you walk through our doors, we aim to help you feel as comfortable as possible. We are dedicated to helping you not only develop your estate plan but also keep it updated as needed so that you and your family are never left guessing. To learn more about the services we provide and how we can help you, contact our Arlington, Texas, property planning lawyer as soon as possible.