Building Your Legacy
Some may regard estate planning as the domain of the wealthy or dual-income couples with complicated finances. However, wills, trusts, power of attorney and probate are all tools for protecting or allocating assets so that they are passed along to loved ones or other benefactors here in Texas. An attorney with experience in estate planning can be an extremely helpful guide in deciding how you want your legacy to look.
Attorneys Barbara Young and Lynn Libersky have a combined 35 years of experience serving clients in a broad range of legal matters that includes estate planning. With our help in constructing a thoughtful and well-structured plan, you can avoid paying unnecessary expenses or diffuse situations among family members that could lead to litigation.
More Than Just A Will
Estate plans are as unique as the people who create them. We can draft them to include different tools or approaches that are most appropriate to your needs. These include:
- Drafting a will: Here the testator (you) puts in writing who gets what and when. It can also include such provisions as naming an executor and establishing guardianship of a minor or dependent.
- Drafting a trust: These can be useful for including stipulations for the dispersal of assets and for managing the affairs of the estate to the benefit of another such as a minor. The most common types are revocable trusts and irrevocable trusts. Trusts are notable for avoiding probate, protecting assets from taxes, as well as passing assets to family or loved ones in a structured way.
- Probate: This is a legal process where probate court reviews the authenticity of the will. It also allows time for individuals to make legal challenges. The executor or personal representative must perform a number of duties during probate. The original attorney who helped to design the plan, or another who has experience in this area, often assists them.
Other Services You May Need
We offer other estate planning services for our clients in Temple and Killeen, including:
- Business planning transition and success planning
- Determining durable power of attorney
- Crafting a living will or advance directive and HIPAA authorization
The testator should not wait until later in life to create an estate plan, particularly once children are born. As circumstances continue to change, it is wise to continue your dialog with your estate lawyer to update the plan appropriately.