KATY ESTATE PLANNING LAWYERS

PROTECTING THE FUTURE OF FAMILIES IN TOMBALL, TX. CALL TODAY.

Experienced estate planning requires a review of your assets, personal desires and wishes, and financial considerations. Proper planning is needed to ensure your wishes are carried out and failing to plan often results in unnecessary and costly court proceedings. Theander & Grimes helps people learn more about their goals and how to best prepare for them. Call today and schedule your consultation with our team.

Complete Estate Planning Services in Katy

One-Stop Solution for Your Estate Planning Needs

With all the different aspects of your estate, that must first be considered, planning for your family’s future can be challenging. Theander & Grimes offers a cost-effective, flat-rate package for individuals or married couples.

This package includes:

• A basic will
• Durable power of attorney
• Medical power of attorney
• HIPAA release
• Advance directive
• Customization according to your needs

Advantages of a Well-Structured Estate Plan

Having an estate plan set up can provide you and your family various benefits in life and after. It is never too early to start planning for your future. An estate plan makes sure all of your assets are accounted for and plans for financial hardships. The advantages of having an estate plan, include but are not limited to:

• Providing for your loved ones
• Protecting your children
• Lessen your expenses
• Quickly distribute your property
• Have an easier retirement
• Be prepared for incapacity
• Avoid probate
• Preserve your assets

Having a proper estate plan will ensure that you and your family are provided for and nothing is left to chance. The experienced Katy estate planning attorneys at Theander & Grimes are here to help guide you through the process and make sure your family is well taken care of. Contact us today to discuss next steps!

Essential Components of Estate Planning

Creating a Will: Your Wishes on Record

Having a will is vital in ensuring that your estate gets handled according to your wishes. Without a will, the State of Texas controls how your property will be distributed upon your death. Your will is your parting message to your family and you want to make sure they understand your wishes.

In preparation of your will, you should ask:

• Do you have specific wishes you want to be carried out upon your death?
• Do you have a property that you want to protect?
• Are you concerned about family conflict?
• Has your marital status changed?
• Do you have stepchildren?
• Do you have minor children?

If you answered yes to any of the above questions, you need a will. If you have a blended family or one child not of the marriage, a will is absolutely critical to carrying out your wishes. A simple will allows you to appoint an executor to carry out your wishes. Wills can also include beneficiary designations and specific gifts so you won’t have to worry about your daughter fighting with your daughter-in-law over grandma’s china cabinet.

Wills can include built-in trusts to plan for a minor beneficiary and or a special needs beneficiary. You can name a trustee to manage inherited assets for the beneficiary and protect that beneficiary from losing critical benefits.

Statutory Durable Power of Attorney: Managing Your Affairs

This power of attorney allows your agent to manage your income and assets if you are alive but incapacitated. Common actions by an agent include selling, buying or refinancing real property; filing income taxes; and paying bills to name a few. Obtaining a Statutory Durable Power of Attorney is critical to avoiding the expensive and complex world of guardianship should you become incapacitated. Your family will be very thankful that you thought ahead and executed this document.

Medical Power of Attorney: Decisions When You Can't

This power of attorney is separate and distinct from the statutory durable power of attorney and must be executed separately. Yes, you need both! An agent appointed by a medical power of attorney makes medical decisions when a person is unable to make those decisions for themselves. Without a medical power of attorney, medical personnel will consult your next of kin. However, this document allows you to determine who will make these decisions and in what order.

HIPAA Release: Ensuring Access to Vital Information

Federal law prohibits the sharing of any adult individual’s medical information with anyone, regardless of the relationship, without consent. A HIPPA release grants this consent prior to you ever visiting any medical provider. This document is vital in ensuring your loved ones receive important medical information in the event of an accident or illness.

Directive to Physicians: Your Wishes for Medical Care

Also known as an Advance Directive or a Living Will, this document informs your health care providers your wishes in certain circumstances, such as terminal illness and irreversible injury. Many people fear to sign this document because they think it is forever binding, but this isn’t true. You will be able to make these decisions on your own as long as you are able. Further, this document provides guidance to your medical power of attorney while they may be under great stress.

Trusts: Flexible Solutions for Complex Issues

Trusts allow for flexible, creative solutions to common estate issues. Common benefits of trusts include probate avoidance, asset administration during incapacity, and protection in the event that extended care is required for the aged. Trusts can also allow inheritances to pass to the next generation in a protected manner that suits the needs of both minors and adults. For more information, visit our section detailing trusts.