Preserving Families

And Protecting Assets

mother and two kids walking at sunset

There are many things to consider before creating an estate plan

Some tasks seem so unpleasant that people put them off for years. For many Texas residents, estate planning fits into that box. It’s normal for people not to want to think about their own passing, but not establishing an estate plan might only make matters more difficult for loved ones. Planning for what should happen after one’s death can be difficult, so it’s only natural that people put off making arrangements. However, this process actually doesn’t have to be viewed in such a negative manner.

Not all doom and gloom

When people approach estate planning with the well-being of their loved ones in mind, it can give them much-needed peace of mind. This can make the overall experience not nearly as gloomy or onerous as it might have initially seemed. Thinking about loved ones and having a say regarding who should get what can actually be rather satisfying and comforting.

Questions to ponder

There is no best time for estate planning, other than right now. Some Texas residents wait until it’s too late, leaving loved ones with the burden of sorting out their affairs and making difficult decisions. No one should be put in that position. Here are some questions to think about, which could indicate it may be time to create a comprehensive estate plan:

  • Are there children (or grandchildren) involved? Who will take care of them?
  • Is there a business involved? What will happen to it if there is no succession plan?
  • Are there unique circumstances involved, such as a special needs child or a beneficiary with an addiction issue?
  • Could there be disagreements among family members over assets?
  • Will there be a need for long-term care?
  • Has thought been given to tax laws and the impact they have on an estate?

These are only some of the many questions that should be considered both before and while creating a comprehensive estate plan. Fortunately, there is professional support and guidance readily available to those who are ready to move forward with this endeavor. An experienced attorney can carefully guide someone through this process, ensuring all critical items and final wishes are addressed.