Plan now for your family's future
Estate planning in Texas can be complex and confusing. There are many tools to consider when deciding how best to distribute your assets upon your death. Our highly specialized firm and our board-certified attorneys work diligently to understand your best interests and those of your family. Based on your answers to our estate planning questionnaire, we apply our years of practical experience to formulate estate planning strategies that best suit your needs. At Shelton & Reecer P.L.L.C., our lawyers approach each case individually and give each client the personal attention he or she deserves.
Valuable estate planning tools in Texas include:
If you become incapacitated, you can appoint someone you trust to handle your assets. Typically, a power of attorney in Texas includes the power to—
If you are no longer able to make your own health care decisions, you can designate an agent under a power of attorney for health care to make those decisions on your behalf. The person you give this power to can consent or refuse treatment for you. The HIPAA documents allow your designated agent to have access to your medical records to make an informed decision.
If you have young children, you may want to identify a guardian, who would take physical custody of your children and care for them daily in the event of your death. You may also wish to designate a person to hold your children's assets and make distributions to them based upon their needs.
Family limited partnerships or limited liability companies (LLCs) are an effective asset protection and estate planning tool.
Frequently Asked Questions about estate planning
What typically makes up an estate plan?
Your estate plan is intended to serve the unique needs of your family and may include:
- An appropriate will and/or trust
- Powers of attorney for business purposes in case of incompetence
- Medical power of attorney in case of incompetency
- Directives to your doctor(s) regarding life support
- Planning to eliminate or reduce death taxes
- Any final instructions you wish to provide
Why is it necessary to have an estate plan?
The purpose of estate planning is to maximize the benefits of transferring your assets to your beneficiaries after your death. Further, estate planning:
- Ensures that your assets are distributed to the people you designate in the most cost-effective way
- Minimizes the taxes on your estate
It is in your best interests and those of your family to plan ahead.
If you are concerned about the distribution of your assets upon your death, rely on the Denton County law firm that specializes in this area. Contact Shelton & Reecer P.L.L.C. and call 940-382-3168 or use our convenient online form to tell us about your situation.