It is simply the most important thing you can do for the care of your family. It affects current and future generations and too often it is ignored.
“It” is estate planning. And studies show that 55% of Americans die without a will or estate plan, leaving their family members with unresolved financial, legal and emotional issues.
Myths and Truths
A common misconception is that estate planning is only for the extremely wealthy. But whether you have a mansion or rent an apartment, everyone has an “estate.” An estate is simply all your property, including bank accounts, vehicles, household goods and life insurance.
If you want your assets to go to a family member, you need estate planning.
If you want to ensure your children are properly looked after when you pass away, you need estate planning.
Quite simply, estate planning is actually lifetime planning.
Essential Tools: Wills, Living Wills, and Trusts
Estate planning involves a multitude of options.
A can help make the transition after a loss as painless as possible for your loved ones. It provides a written roadmap that allows you to express your financial wishes once you’re gone.
A living will expresses your health care preferences while you’re still alive, even if you become unable to communicate your wishes due to illness or incapacitation.
Trusts are another estate planning tool you can use to manage your property and avoid tax burdens. There are a number of different types of trusts serving a wide range of functions. For example, an asset protection trust is designed to protect a person’s assets from future creditors. A charitable trust, on the other hand, is used to benefit a particular charity or cause.
There is no need to be overwhelmed. The expert estate planning attorneys at Voeller Law Firm will work closely with you and your family to craft the optimum strategy for your property and possessions.
For over 35 years we have been preserving family wealth for future generations in the San Antonio and neighboring communities. We realize that proper estate planning is one of the greatest acts of love you can perform for your family.
Whether you decide on a will, a trust, or other legal document, we can provide personal attention and guidance. Laws for estate planning are always changing in Texas. Let us assist you in protecting your assets and legacy. Call our expert legal team at (210) 651-3851 to set up a free consultation.