ESTATE
PLANNING
Wills, Trusts, Power of Attorney, and More
An Estate is defined as the economical valuation of all the investments, assets, and interests of an individual. It includes a person’s belongings, real property, other property, art, cars and collectibles, and any other assets they may have.
Estate Planning is the process in which a person arranges the transfer of those assets in anticipation of death, with the purpose being to preserve the maximum amount of wealth as possible for the intended beneficiaries. If planned properly, the assets will be distributed accordingly to the decedent’s wishes, and the estate will usually owe much less in taxes.
Most people associate estate planning as the creation of a Will, a Trust, or Durable Powers, and they are correct; however, estate planning goes much deeper than that. While it is important to make sure your bequests reach their intended beneficiary, there is so much more that can be done.
It is becoming common now to plan for dementia and Alzheimer in the elderly, for children with special needs, and for blended families. Niche specialties such as veteran planning and medicaid planning are becoming more common in practice. With a forty percent death tax rate for people over the credit limit, proper estate tax planning can save you a literal fortune.
Basic Estate Planning For You
At the Law Office of Robert M. Meredith, our base estate plan package contains the following:
- Will
- Durable Power of Attorney
- Medical Power of Attorney
- Physician’s Directive
- HIPAA Medical Release
With these documents, most people can get their estate in order. For more complex scenarios, we tailor a plan to your exact situation, avoiding the creation of unnecessary documents that cost a lot of money.
Not everyone needs a Trust, but for those who do, creating the proper trust can save your estate and family an insurmountable amount of time and money.
Contact Us today so that we can put a plan together for your estate. We are an experienced and client-oriented law practice serving the State of Texas. We help residents of Harris County, Montgomery County, Fort Bend County, and surrounding areas such as Conroe, Houston, Spring, and The Woodlands.