Estate Planning & Probate

Lorne and family

An estate plan is essential for nearly everyone. The right estate plan can help you save taxes, provide for your family, and provide information regarding your end-of-life care. These are important documents for you, and for your family.

Wills & Trusts

For those residents of the Dallas-Ft. Worth metroplex, a simple will is usually sufficient to provide instructions for the distribution of their property. Assets such as personal effects, your home, and bank accounts without a joint holder can be transferred easily by providing instructions. For those with more complex finances, a trust is often a better option.

When your assets are substantial, you are concerned about your financial records remaining private, or you own all or part of a business, a trust may be a better option. Trusts are not public and need not go through the probate process. However, there are steps you must take once forming a trust including transferring your assets into the trust. We can help you determine whether a will or a trust is the best option for your estate.

Power of Attorney

Another set of important documents are powers of attorney. Drafting a durable power of attorney will allow a person you trust to make financial decisions on your behalf in the event you are unable to manage your affairs due to incapacity. These powers are in full force and effect upon your disability and cease should you lose your life. A medical power of attorney enables someone else to make your health care decisions in the event you are unable to communicate with your medical team. In these cases, you may want to have a living will in place so the person you appoint understands your wishes.

Tax Planning

Another important aspect of estate planning is tax planning. You do not want your heirs to be burdened with unnecessary taxes which means it is important to carefully review your assets and how they will be transferred. We will take the time necessary to understand your entire financial picture and help you determine the best ways to minimize the taxes due from transferring your estate to loved ones.

Whether you are currently considering an estate plan, or you need help with the Texas probate system because you have been named executor of an estate, you can count on the estate planning attorneys at BOOK LAW FIRM located in Carrollton, Texas. Contact us today for all your estate planning needs.

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