WILLS AND ESTATE PLANNING

Estate planning is the process of developing a plan of disposing of an estate to maximize the goals of the estate owner. Our attorneys will assist you with these goals by making sure the greatest amount of the estate passes to the estate owner's intended beneficiaries, often including paying the least amount of taxes and avoiding or minimizing probate court involvement. Additional goals typically include providing for and designating guardians for minor children and planning for incapacity.

Estate planning can include wills, various types of trusts, beneficiary designations, powers of appointment, various forms of property ownership, gifting, and powers of attorney, specifically power of attorney, durable power of attorney, medical power of attorney and directive to physicians.

Everyone should have a will. Having a Last Will and Testament is especially important for people with dependent children, as the will designates guardianship of minors, and the elderly.

In the absence of a will, a decedent’s property is distributed according to state law provisions, without regard to your wishes or your heirs' needs. In this case, personal wishes, even if they are written down, will most likely not be followed.

A will may be updated at any time, and should be reviewed regularly. If your estate planning documents have not been reviewed in the past five years, or if significant changes have taken place since they were prepared, it is important to reassess them to make sure they suit your current position and desires. In addition, laws on the structuring of estate planning documents periodically change.

If you do not have a will, or if you would like to revisit your estate planning, feel free to contact an experienced Texas lawyer at Tipton Jones to see how we can help you prepare for the future.