Benefits of Estate Planning in Texas
- Control. Intestacy statutes determine the distribution of your estate if you do not have a Will or Trust. These statutes are found in the Estates Code and aim to distribute assets as a “normal” person would. In other words, if you do not have a plan, your estate will be distributed according to the Estates Code. Therefore, if you want to decide how your estate will be distributed, it is a good idea to plan now. Moreover, you can do this by contacting a Tyler, Texas estate planning attorney. Learn More About the Texas Estates Code
- Avoiding Probate. Probate can be avoided all together with proper estate planning. In contrast to a number of other states, Texas probate is not as expensive, time consuming, or complicated. To learn more about probate visit Learn More About Probate
- Worst Case. Among other reasons, you could become incapacitated due to a car accident or sudden illness. Consequently, you may not be able to manage your financial affairs or make medical decisions. You can plan for the worst case with estate planning.
- Efficient Distribution. Proper estate planning can avoid distribution delays. For example, if your estate goes through probate, your probate assets will not be distributed to your beneficiaries until the probate process is complete. This process often lasts months.
- Family Burden. Your estate plan can direct others how you want your end-of-life care to be handled. As you can imagine, such a directive can ease the burden on your family concerning these types of difficult decisions.
- Reduce your taxes. You may be able to reduce your estate taxes depending on the size of your estate. Of course, this usually involves not only your estate planning attorney but also an accountant. Overall, both will work together to develop the best plan for you.
GIBBINS LAW IS HERE TO HELP
Daniel Gibbins is a Tyler, Texas Estate Planning attorney. We have experience drafting estate plans for clients with various needs and different sizes of estates. Gibbins Law offers free consultations and appointments seven days a week. Initial consultations are always free. We are committed to always being here for you.
To request a consultation, please contact us by phone or email and we’ll be with you as soon as possible.