Texas law provides a sort of default estate plan via the intestacy rules. However, these regulations are probably not going to do many of the things that a complete estate plan could for your loved ones. Therefore, while an estate plan is not required by law, it is often necessary if you have specific goals for the distribution of your assets.
Drafting a last will and testament may not be a top priority. Yet, estate planning is important for people at any age, especially if you have young children or are the caregiver of an adult. It is important to know who will take care of your loved ones should something unexpected happen, rendering you unable to make critical decisions regarding their care. Appointing a guardian in your last will and testament may be one of the most critical decisions you make, and it is essential that you understand what types of guardianships are available.
When people think of tasks that need to be completed, creating a last will and testament may not come to mind. It is difficult to think of a time where we will not be here with friends and loved ones. It may also be a far reach to consider what will happen to the property and assets one has accumulated during a lifetime after they pass. Whether one has just reached retirement age or is just starting a family, it is important to consider creating a will. This document records what will happen to the estate if an unexpected accident should occur.
If you are preparing to get remarried after having previously been divorced or widowed, you are likely faced with many decisions not just about your wedding but about how you and your new spouse plan to merge your lives. Texas residents who get married for the second or subsequent times are generally more established in their personal and professional lives. This can warrant unique needs when getting remarried.
At Doehring & Doehring, Attorneys at Law, we understand that complicated estate planning needs tailored, creative solutions. That is why we work with our clients from the formation of an initial plan to the ongoing maintenance and updating that is typically necessary.
If you are reading about estate plans, then it could be time for you to update or revisit yours. Texas law changes from time to time, and it is likely that your own family situation does the same.
What happens to all of your money when you die? If you have been thinking about this question, you are not alone. The truth is, there are many methods you could use for distributing your money before or after you pass away. Finding the one that works for you is really a matter of personal preference and financial stability. At Doehring & Doehring, Attorneys at Law, we are experienced in helping people in Texas to coordinate a customized estate plan.
There are all sorts of issues to tackle when it comes to estate planning, and everyone is in a different position when it comes to their estate. Aside from determining which type of plan is most sensible, focusing on the benefits of an estate plan and figuring out how it could affect loved ones, people who have already worked through all of these issues may have estate planning considerations arise in the future. For example, those who are injured because of another's negligence and receive a significant personal injury settlement may need to go over their estate plan once again.
While conflict is a natural part of many family units in Texas, there are certain situations when unsolved disagreements can wreak havoc on relationships that could end up causing long-term damage. Estate planning for one is a topic that can be met with angst and hesitation by some family members and is also one that can create ongoing conflict even after the death of the person who created the plan.
We completely understand how challenging estate planning can be for some people, especially those who have uncertainty. Not only are some people unsure of which type of estate plan will suit their needs best, but some may be unsure of how to move forward with a will or a trust. For example, someone could be unsure of whether someone should be named as a beneficiary, or how to divide their assets among beneficiaries. There are many different angles to consider and people in Houston and across Texas will likely benefit from reviewing all of their options in detail.