Concerned about what life will be like for your loved ones when you’re gone?
It’s never easy to plan for your own passing, but the truth is that having an estate plan in place can help with preserving your assets, protecting your family’s future, and making sure your wishes are fully known.
Contact a Katy estate planning attorney at Stafford Law Firm today and we’ll help you create a comprehensive estate plan that benefits your family for generations to come.
Roughly 30 miles from downtown Houston, Katy, TX, has both small-town charm and big-city convenience. The City of Katy is home to more than 20,000 Texans and the median household income of Katy residents was $87,179 in 2020. The majority of homes in the city are lived in by the property owners, resulting in a homeownership rate of 79.1%. Homes have a median property value of $208,700.
So, what does all this mean for you? Well, if you’re researching estate planning in Katy, chances are you have assets and a future to look out for, and you can’t risk losing everything you’ve earned on a whim.
When you and your family’s future is on the line, don’t just hire anyone—hire Katy estate planning attorneys who know what they’re doing.
Estate planning is an ongoing process that sets your family up for success when you’re no longer around. It’s as unique as you are and can include a variety of tools.
Because of that, our team offers comprehensive estate planning services so you can hand-select the tools that make sense for your family.
Here are just a few ways we can help you.
Wills are a great starting point for your estate plans. In your will, you can designate guardians for minor children, select beneficiaries for your assets, and even dictate your wishes for burial arrangements.
Keep in mind, however, that wills do not provide asset protection, which means they’ll need to be used in conjunction with other estate planning tools to cover all the bases.
Trusts are fiduciary arrangements that allow a third party (trustee) to hold assets on behalf of a beneficiary. When you set up a trust, the trust becomes the owner of those assets and the trustee, the manager, until you pass away or become incapacitated.
Creating a trust allows you to protect those assets from probate and have more autonomy over how and when they’re distributed.
Part of estate planning is planning for the unexpected, like if you become badly injured or sick. In situations like these, your loved ones and doctors will need guidance on what healthcare treatments you want, what life-saving measures you would or wouldn’t prefer, and other decisions.
These aren’t decisions you want your family to have to second-guess about. And when you can’t speak for yourself, healthcare directives allow you to outline your wishes beforehand.
Power of attorney documents allow a third party (agent) to act on your behalf in your absence. If you were temporarily disabled, incapacitated, or taking an extended trip, these documents allow that third party to step in and make important legal, financial, or healthcare decisions for you.
Without these documents, the court could decide who should make these decisions and, depending on the circumstances, end up stripping you of your rights altogether.
Probate is the process of rounding up your final affairs in court. This includes collecting, managing, and distributing your estate. It can be costly and time-consuming, dragging your loved ones back and forth to court to determine what should happen with your estate.
With proper planning, it can be avoided. However, when necessary, surviving loved ones can count on an experienced probate attorney to walk them through the probate process.
Planning your estate is an emotional process. We never want to consider what life would be like without us around. But at Stafford Law Firm, our attorneys can help you plan your estate, protect your assets, and give you peace of mind for the unexpected.
Our other legal services include:
Are you ready to take the next step in planning your estate?
Contact a TX estate planning lawyer at Stafford Law Firm to schedule a complimentary estate planning consultation. We can help you organize all of the legal documents for your estate plan.
It’s common for people to assume that they don’t need an estate plan. Maybe they don’t have children to leave their assets to or perhaps they think simply having a Last Will and Testament will be enough..
The reality is, though, that we all have people or things we care about, and a will alone may not be enough to secure your assets or to protect your loved ones from probate. Why not take the next step? With an estate plan, you can ensure that your wishes are honored when you’re no longer able to speak for yourself.
We are here to protect you, your family, and your business. Schedule a free consultation to discuss the best way to protect your future.
If you have assets and, more importantly, family you wish to protect, then you should create an estate plan. Many people put off estate planning for a variety of reasons. However, it’s essential that you create one before it’s too late. Illness or death is unpredictable, which is why you need a comprehensive estate plan.
Estate planning is more than just a will. It includes important documents like trusts, beneficiary designations, power of attorneys, and any instructions once you die or if you become incapacitated. An estate plan is a living document: you should update it as your needs change.
There is no set age that’s required for estate planning. If you have assets you’d like to protect, then it’s helpful to have an estate plan. Another guideline is to create an estate plan before you get too old to make one or before you need someone to take care of you. You never know when something will happen to you, which is why it’s best to start planning as soon as you can.
If you cannot make and convey your own decisions, an advance directive that includes a living will outlines the kind of medical and personal care you would choose. Your advance directive can indicate who will represent you in decision-making and communication and what to do if you go into a coma.
Working with a qualified estate planning attorney is the best way to keep your plans up to date. Major life changes like a new baby, buying a home, or getting married can mean you need to move some things around in your estate plan. Experienced estate planning lawyers can ensure your legal documents are kept up to date.
