Wills, Probate and Estate Planning
Estate Planning Help You Can Trust
One of the greatest fears any of us face in life is what will become of our loved ones in the event of our deaths. It’s not a comfortable topic to talk about, but it’s one that must be addressed if you’re to have any peace of mind.
There are multiple considerations to make when preparing for the unexpected. Death preparations, long-term care, end-of-life medical. At Davis, Ermis & Roberts, P.C., we help clients walk through each challenge one step at a time. Here’s what you can expect when you contact us about setting up a living will or estate plan.
What are your goals? Who are the people that matter the most to you? What life do you envision for them in the event of your death?
Of course, there’ll be grieving, but after the shock and grieving process have subsided, what level of comfort do you want for them? After you’ve visualized this, what is realistic given your existing assets and earning power?
These are the types of questions that we’re sure to ask because, with each answer, it brings you closer to an estate plan that will be legally viable and adequately meet your objectives.
Help Deciding Your Estate Plan Options
You certainly have options when it comes to authoring an estate plan. Sometimes those options can feel overwhelming without appropriate counsel. This is particularly true when you get into the complexities of a trust.
Going with a will is a simple way to pass ownership of valuable assets and items to the people closest to you. The problem with that: many people do not have the foresight to assign beneficiaries to every asset or account. As a result, that puts the assets in danger of probate. Probate places additional legal burdens and expenses on your loved ones if they want to fight for access and control of those assets.
Wills are great for simple estate management, but they’re not as effective when dealing with larger portfolios and more complicated financial holdings. A trust can solve these issues by allowing your loved ones to avoid probate and estate taxes, receive creditor protection, and receive administration of assets in the event of minor beneficiaries.
Whichever path you choose, one is better than nothing. We will take the time to review each step and help you make the best possible decision, according to the complexities of your estate.
Detailing Burial Considerations
Funerals can be massively expensive (as in tens of thousands or even hundreds of thousands of dollars). When you get into that kind of money, it’s going to leave a mark on your overall estate. You may wish to consider a cheaper alternative like cremation or donating your body to a medical program, which often results in free cremation after medical research is conducted.
Morbid? Perhaps. But it’s a reality your loved ones will have to deal with if you don’t take care of it now. The good news: it’s a lot easier to make these arrangements and considerations when you’re already working on an estate plan.
Planning for End-of-Life Scenarios
Beyond deciding who gets what when you die, your estate plan also needs to include a component that talks about end-of-life treatment. Often referred to as your “living will,” this can take the difficult decisions of what to do if you’re in a permanently unresponsive state as the result of sickness or accident.
Remember: a medical doctor’s main purpose is to save a life. And yes, that means even when there isn’t a life to save. Without specific direction from you, it’s a burden that can fall on the family when they’re simultaneously trying to cope with their grief.
At Davis, Ermis & Roberts, P.C., we can walk you through the wide range of possibilities so your medical directives leave no doubt of what your wishes are. This gives your family the freedom to grieve and cope without the threat of competing tensions or boiling animosity.
It also will ensure costly but ultimately fruitless medical care doesn’t continue indefinitely. This could devour significant chunks of the assets you hope to leave behind.
Selecting an Executor
Lastly, we know the role of executor inside and out. We’ve done it ourselves, and we can help you make the right choice for this all-important role when the time comes.
Do Not Let Another Day Go By
Your estate plan is important, and it’s something you should come back to every so often to make sure every asset is accounted for and each beneficiary selection is as you want it. We can help you create, maintain, and implement an estate plan. It doesn’t matter how simple or complex. We can do wills, trusts, and medical directives. Just let us know what you need, and we’ll take it from there. Contact us today to learn about your options.
Our Arlington and Grand Prairie estate planning attorneys offer a free initial consultation. To schedule one, please call 817-265-8832 or send us a message. An experienced estate planning attorney will promptly get back to you to discuss your options.