Many people in Texas and throughout the United States avoid conversations that have to do aging and mortality. While one needn’t spend an exorbitant amount of time focusing on these topics, both are part of the natural progression of life and are often part of discussions regarding estate planning. Data suggests that executing a plan while one is still younger in age and of sound mind often helps prevent confusion and dissension among family members later.
If there is a particular person or persons whom you would like to give a specific inheritance, it is best to list them by name ahead of time. Should you die with no estate plan in place, there is no guarantee that the state will distribute your assets to the same person/persons you yourself would have chosen. In addition to asset distribution, a thorough estate plan allows you to name someone as a voice of authority to make decisions on your behalf should you become unable to do so due to incapacitation.
Some estimates show that at least 70 percent of those who died in 2015 had no wills in place. Such situations often lead to heavy tax burdens, probate expenses and discord among family members that might have been avoided. Livens & Reed Attorneys At Law has helped many clients throughout the state protect their assets and pave the way for their loved ones’ futures by thorough planning and attention to detail.
If you are considering estate planning in Texas, or need to make changes to an existing plan, we provide experienced assistance that helps you achieve your immediate and long-term goals. The process of planning an estate is customizable, and we are prepared to help you create a plan that addresses all your concerns and suits your family’s needs. By acting alongside sound counsel and effective representation, you can plan now to help your family avoid problems later.