Happy New Year! It's a great time to check and update your estate plan. Estate planning means making a plan for your money and property for when you're not here anymore, or can’t make your own decisions. It's really important to make sure everything is in order, especially because laws can be different in each state. In Texas, where our law office is, we know a lot about these laws and can help you with your specific needs.
If you live in Texas, and haven’t created a plan or have had major life changes that could affect your current plan, like getting married, having a baby, or getting new things, we're here to help you put a plan in place or update your plan. Here are six key things you should think about for your estate plan in Texas:
Know Texas Laws. Texas has its own rules about estates, like house laws and probate (court process after someone dies). Our lawyers know all about these and can make sure your plan follows them.
Plan for Your Kids. If you have young kids, you should choose someone you trust to take care of them and think about setting up a trust to help with their future.
Think About Long-Term Care. It's smart to plan for when you might need extra care when you're older. Talk to us about insurance and plans for the future as you age, as well as what long-term care really means for you and your family.
Update Who Gets What. Life changes, like getting married or having a baby, mean you should look at who you've said will get your money and things. We can help make sure it's all up-to-date.
Consider Taxes. We can help you understand taxes after you're gone and find ways to handle them best, like giving gifts or setting up certain trusts.
Plan For If You Can't Make Decisions. Include legal documents like a power of attorney and a living will in your plan. These say what you want if you can't make decisions yourself. Keep these updated too.
To sum up, the start of the year is a perfect time to make sure your estate plan is current and does what you want it to. We'll help you keep it working right and answer any questions. This gives you and your family peace of mind.
Our law firm focuses on helping people who take care of both their kids and aging parents, known as the "Sandwich Generation." We understand the worries about what will happen to them and how to pay for long-term care. We aim to help you feel secure about these things with good estate and long-term care planning. Get in touch with us to chat more about this!