Estate planning attorneys help people determine and document what will happen to their assets after death. But surprisingly, data suggests that only 33.1% of Americans actually have a will or estate plan. But regardless of the amount of assets you possess, estate planning can reduce the tax burden, protect beneficiaries, avoid probate – and ensure you provide for your loved ones. Here is a closer look at how our McKinney attorneys help create estate plans for clients.
Estate planning is a critical process, one that you shouldn’t have to tackle alone. When you’re ready to start thinking about your will, your end-of-life care, and other major decisions, contact Lucé Law, PC. We’ll help you with each step of the estate planning process, ensuring that your wishes are clearly communicated in each document and directive.
The Main Elements of an Estate Plan
Each client will have their own individual requirements for an estate plan. From crafting a simple will to building out a more complex plan, an attorney aims to make the wishes of each individual a reality.
Wills
As a first step in your estate planning, the team at Lucé Law, PC will help you prepare a will. Through your will, you can specify which family members, friends or other beneficiaries will inherit your various assets, as well as any other terms related to your personal property.
Document creation produced by an experienced legal team is key to protecting your assets with an estate plan.
Health Care Directives
Lucé Law, PC can also help you with another crucial aspect of estate planning: health care directives. In the event that you cannot make decisions on your own due to illness or incapacity, a directive serves as a legal document outlining your wishes, including the person you want to make health-related choices on your behalf, your medical treatment preferences, and more.
Estate Taxes
Expensive estate taxes can keep your beneficiaries from receiving the assets to which they are entitled. Lucé Law, PC will work with you to develop an estate plan that will reduce those tax burdens as much as possible.
Guardianship Designations
Parents of young children can name a guardian in the event of death. Including a guardian within your will ensures that if tragic circumstances were to occur, your child would be placed with a trusted friend or family member. The will can also detail when your children would inherit any assets belonging to the estate.
Durable Power of Attorney
Durable power of attorney gives a person the ability to make legal and financial decisions on your behalf if you become incapacitated. In many cases, the absence of this clause leads to complex estate disputes, and the court could end up making decisions about your estate.
Final Arrangements
Finally, Lucé Law, PC can help you make plans for your end-of-life care, funeral, and other final arrangements. Our utmost goal is to ensure that you and your family are treated with care now and in the future.
Estate planning can be difficult to tackle alone. At Lucé Law, PC, we’re here to help you throughout every step of the process, so you can rest easy knowing that your estate and end-of-life care will be handled according to your specific wishes.
Estate Planning Services in North Texas
At Lucé Law, PC, we help clients structure their assets by developing custom estate plans. Our legal team creates wills, trusts, guardianship designations and other services. To contact our McKinney office, call (972) 632-1300 or request a free legal consultation today.
