Estate Law – Frequently Asked Questions
Who Does Estate Planning Affect?
Estate planning affects not only the person making the plan, but primarily the loved ones left behind. Trying to settle the estate of a loved one who failed to make a plan can be extremely painful and expensive. Without a plan in place, many times family members argue over assets that are not specifically listed in the plan. The last thing you want to do is leave an additional burden on loved ones while they are dealing with your loss. By meeting with a Houston estate planning attorney, you can avoid a great deal of the stress that would be left on them otherwise.
Why Is An Estate Planning Attorney Important?
An estate planning attorney can be a great asset when setting up an estate plan. He or she can advise you on setting up a will or a trust and make sure that you do not overlook anything when naming beneficiaries or powers of attorney. An attorney will make sure that all your loved ones avoid probate court, thus saving them a great deal of time and expense. A Houston estate planning attorney can help you avoid the many pitfalls that are out there and make the process for your loved ones that much easier. To meet with a Houston estate planning attorney at Pipkin Ferguson to give yourself the peace of mind that an estate plan can provide, click here.
What Are Living Wills And What Protections Do They Provide?
A living will is an important document for anyone doing estate planning in Houston. In a living will, the creator can specify wishes for or against life-sustaining measures, including feeding tubes, life support and resuscitation. Those doing estate planning Houston may also want to consider a power of attorney. This form will name a trusted family member or friend who can make decisions on behalf of the creator, should the creator become incapacitated. In most cases, a Will, will also elect the same person to handle the estate as the executor, also called a personal representative, though this isn’t required. Some wills name more than one person, in case the primary person cannot accept the responsibilities.
What Is A Trust? What Is A Living Trust?
Trusts and living trusts are often created as part of an estate plan. A living trust is created to protect specific money accounts, personal property or other assets from estate taxation or seizure. Living trusts will distribute those funds or assets to designated parties after death. Some living trusts are created only to fund funeral expenses. Even those with few assets use living trusts for this reason. Immediate funds can be dispensed to a designated party to cover funeral costs. There is also the option to meet separately with an attorney to discuss preneed funeral contracts. Trusts can be made and set up for family members to be activated upon death or incapacitation.
How Can I Get My Own Estate Law Questions Answered?
A conversation with a knowledgeable attorney can provide personalized answers to your questions. Save time and effort by scheduling a consultation with one of our lawyers at Pipkin Ferguson, PLLC, in Houston, TX. Call 713-766-3102 or email us for a prompt response.