If you live in Tyler, Longview, or elsewhere in East Texas and have not yet started the estate planning process, now is the time. No matter how old or healthy you may be, having an estate plan in place is beneficial for both your family’s future and your peace of mind.
Planning your estate should include at least one of the following, if not all four:
1. Wills: A will is a legally binding document that outlines what will happen to your assets when you pass away. Your beneficiaries can be anyone or anything, from family members and friends to organizations and institutions.
2. Living Trusts: Through a trust, you grant another party the legal title to one or more of your assets. These assets are then transferred to a specified beneficiary once you pass away.
3. Power of Attorney: By granting a loved one power of attorney, you provide them with the right to take important actions on your behalf, such as personal, medical, and financial decisions.
4. Care Instructions: If you have minor children or disabled adult children under your care, you may create instructions for their continued care after you pass during the estate planning process.
Finding an estate planning attorney in East Texas enables you and your family to protect your wealth during your lifetimes while preserving your assets after you pass away. Creating a detailed plan for your estate in Longview or Tyler empowers those you trust to handle life’s emergencies with you as their guide during such difficult, emotional times.
Creating a will or trust in the Tyler, Texas or Longview, Texas area is a useful estate planning solution to specify who will receive your property as well as who will manage and direct its distribution after you have passed away. Most people are aware of the concept of a will or trust, but few fully understand the differences between them. A last will goes into effect once you pass away, and the distributions it outlines may take place according to a timeline of your design. Distributions of property outlined by a trust may take place at any time, either during your lifetime or afterward.
Our mission is to help you craft thoughtful estate planning solutions by listening closely to your needs, making suggestions, and guiding you through the process of creating documents for you and your family to rely on in the case of emergency or death. We look forward to meeting with you and learning more about how we can provide assistance as you plan for the future. Contact our Tyler, Texas office today to schedule a consultation.