Houston Estate Planning Lawyer

Attorney for Trusts, Wills, and Powers of Attorney in Houston, TX

Planning your estate well is one of the best things you can do not only for your intended beneficiaries, but for yourself. You have likely worked hard all your life to build up the assets you own now. By doing your estate planning, you can preserve your property for yourself in your old age and for your children, grandchildren, or anyone else you want to benefit from your estate when you are not around to enjoy it anymore.

The Fealy Law Firm, PC will work with you to find the right estate planning solutions for you. Experienced Northern Texas estate planning lawyer Vicky Fealy can recommend and draft the legal documents you need to both prepare for any future incapacity you could experience in your golden years and to plan for the seamless transfer of your property when you are gone. She will work to protect you and your family for many years into the future.

Who Should Have a Will?

Most people can benefit from having a will in place, even if they plan to rely mostly on a trust. A will can be used to move any assets that did not make their way into the trust during the trustor's lifetime into the trust during the estate administration phase. Parents of minor children should always have a will, as this is the document that allows them to name the person they would want to become their children's guardian if the children were left without a parent.

Trust Attorney in the Houston Area

Trusts are a surprisingly simple way to transfer assets after death. When you use a trust, your beneficiaries can avoid probate entirely. You simply transfer your assets into a trust (that you can control during your lifetime), appoint a trust administrator to take over when you cannot manage your trust anymore, and leave that person directions for how you want your trust assets distributed.

You have the option of making distributions to your beneficiaries over a long period of time. You can decide to give each beneficiary a certain sum each year, to give beneficiaries certain pieces of property immediately, or to distribute gifts to them to celebrate milestones in their lives you cannot be there in person to see.

The Importance of Incapacity Planning

Planning for potential future incapacity is an important part of estate planning. There is a strong chance that you will experience a period of time where you cannot manage your own affairs before you pass away. Incapacity planning allows you to set out directions for what should be done during that period. Documents you may need include:

• Advance Healthcare Directives - Documents like a living will allow you to make certain choices about your own future medical care.
• Medical Powers of Attorney - If you are incapacitated, you will need someone to be able to access your medical records and make medical decisions you have not already made in advance.
• Financial Powers of Attorney - Financial Powers of Attorney are important tools that can preserve your wealth if you become unable to manage your financial affairs. Conditions like dementia can lead to reckless financial decisions like giving away large sums of money or forgetting to pay your bills. The right financial POA can enable someone you trust to use your assets to benefit you during your lifetime.
• Personal Powers of Attorney - You may need someone to handle day-to-day decision-making for you during your advanced age. This might include making choices like where you should live.

Thorough incapacity planning can prevent the need for a legal guardianship later in life.

Contact a Harris County Estate Planning Lawyer

The Fealy Law Firm, PC is dedicated to helping people create strong, thorough, and challenge-proof estate plans. Experienced Houston area estate planning lawyer Vicky Fealy will do all she can to ensure that your estate plan contains every legal document you will need to protect yourself and your beneficiaries. Contact us at 713-526-5220 for a complimentary consultation.