Estate Planning in Southlake
Estate planning is a necessary process, and for most Southlake residents, their estate will change over time
This can happen through marriage, business decisions, divorce, children and stepchildren, retirement, and more. While planning for when you pass can feel bleak, it is an essential step in taking care of your loved ones.
Factors of Estate Planning
There are a lot of surprises that can impact the validity and simplicity of your estate plans. One issue that many people have is facing their own mortality. This leads many people to put off estate planning or even avoid it entirely. If this is the case, it can result in unintended beneficiaries and delays in your loved ones receiving assets that could help them in your absence.
Additionally, if you fail to keep your estate documents current, your estate will be considered outdated. There are also negative impacts from lost documents. Both situations can lead to your wishes not being respected and your estate being executed improperly.
Options for Estate Planning
There are many potential conversations that can be included in an estate. The best way to choose appropriate options is to work with an estate lawyer and let them know your wishes. These are some of the things they may discuss with you.
- Legal will or trust
- Revocable living trusts
- Directive or power of attorney
- Lifetime gifting to an heir
- Joint ownership
- Lifetime charitable giving opportunities
- Beneficiary designations
Work with a Southlake Estate Planning Lawyer
Working with an estate planning lawyer makes dividing your assets after death easier and smoother for your family, allowing them to grieve. A legal professional has the experience to guide you through potential estate documents and decide which is correct for you. When your estate is in order, your wishes will be respected.
Your lawyer is also there to adjust your plan if your life changes. Most people have large moments that change their lives. An estate planning lawyer helps amend your plans to ensure that your loved ones are taken care of in any circumstance.
The experienced estate planning lawyers at Southlake’s Abercrombie, Sanchez & Wood Law have the skills and knowledge to help you make a plan for your family. Regardless of your net worth or situation, it is important to have a lawyer on your side through every stage of life. Reach out to our team to start taking steps toward making those hard decisions.