A Lewisville Estate Planning Attorney on Estate Planning, Probate, and Wills
You are never too young to consider estate planning. In fact, if you own a home, have young children, or have loved ones you want to care for, you should strongly consider contacting a Lewisville estate planning lawyer to begin reviewing your options.
Generally, there are several different tools for an effective estate plan that a Lewisville estate planning attorney can explain to you. These can include:
- Will. A will is the most basic estate planning document. There are minimal requirements that you have to meet to draft a valid will. Yet, despite its simplicity, a will can be a powerful tool that can allow you to name beneficiaries and even guardians for your children. You should discuss your estate planning goals with a Lewisville estate planning lawyer to learn what you should include in your will.
- Trust. Revocable and irrevocable trusts are more advanced estate planning documents. There can be tax implications with trusts and you should not try to implement a trust without an experienced Lewisville estate planning attorney advising you. Trusts can be used to avoid probate and also to leave complex instructions for how your assets are to be divided. Trusts can also be a powerful tool to minimize estate tax exposure.
- Durable Power of Attorney. A durable power of attorney goes into effect during your life, but during periods of incapacity. A Lewisville estate planning attorney can explain that you generally will name someone to make your legal and financial decisions for you. Otherwise, a court may step in and name someone to make these decisions for you.
- Advance Health Care Directive. In this document, you will state your wishes as to matters like being placed on life support, where you would like to be buried, whether you authorize an autopsy, and the type of medical care you would like to receive. The advance health care directive is extremely important, but often overlooked. Have a Lewisville estate planning lawyer review this document with you.
These are just some of the common estate planning tools and instruments. For specific considerations, talk to a Lewisville estate planning attorney.
Contact a Lewisville Estate Planning Attorney
If you would like to get started planning for the future and ensuring that your loved ones are cared for, contact a Lewisville estate planning attorney at the Casaubon Firm L.L.P. by calling 972-221-4541.