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How Can an Estate Planning Attorney Help Me?

McKinney estate planning attorney services.
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An estate planning attorney is vital to developing an estate plan that protects you and your heirs. From designing a personalized estate plan to completing the probate process, your attorney can provide valuable advice and legal representation. Regardless of your age or the value of your assets, an effective plan offers numerous benefits. Here are some of the main areas a McKinney estate planning attorney can help with.

What Are the Main Services an Estate Planning Attorney Provides?

Developing a Personal Estate Plan

Estate plans can help individuals with estates of all sizes. You may want a straightforward will that records your assets and documents your final wishes. Alternatively, you may require a more complex structure involving revocable or irrevocable trusts, business succession planning and family limited partnerships. An estate planning attorney can create a tailored plan that allows you to manage how your assets will be allocated.

Ensuring Assets Are Protected

Asset protection strategies can be used to shield your estate from legal challenges during your lifetime and in the event of your death. Unfortunately, claims from individuals, businesses and creditors could deplete the value of your assets if your estate is not effectively structured. However, using trusts and other methods, it is possible to secure your assets for you and your beneficiaries.

Planning for Emergency Situations

One thing you need to know about estate planning is how valuable it can be during an emergency. Detailing who holds power of attorney, along with other healthcare directives, can protect you from malicious decision-making or fraudulent claims on your estate if you are incapacitated. Also, an estate plan allows parents to provide for their children in the event of sudden death or incapacity. For unmarried adults, estate planning can help you determine specific ways your assets can be divided among your designated beneficiaries.

Digital estate planning has become more common due to social media, email, etc. In an emergency or in the event of death, ensuring a loved one or a designated friend has passwords to access your digital assets like social media accounts, cell phones, emails, computers and photos (stored in clouds) can be helpful.

Planning for the Future of a Business

Estate planning can involve more than personal possessions and property. If you own a business, you may want to designate its future using a will and trust. Planning for the future of your business offers protection while you are still running the company and after death. You may choose to determine the ownership and management structure of the organization and use a trust to protect against potential lawsuits.

Building a Tax-Efficient Structure

Beneficiaries of an estate are often faced with a significant tax burden. However, sophisticated tax planning will ensure tax liabilities are minimized. In order to create a tax-efficient structure, it is important to work with experienced estate planning lawyers who understand both state and federal tax laws.

Lucé Law, PC Can Help With Your Estate Planning Needs

At Lucé Law, PC, we can help with all aspects of estate planning. If you need assistance with wills, trusts, healthcare directives and more, contact us today. For legal advice in McKinney and across North Texas, call (972) 632-1300 or request a free legal consultation.

Legal Practice Areas

Joe Lucé represents individuals dealing with the repercussions of personal injuries, auto accidents, slip and fall injuries and wrongful death.
Personal Injury

Personal Injury

Our experience dealing with personal injury claims means we know how to get results.

wrongful Death attorney

Wrongful Death

The loss of a loved one is compounded when it’s the result of wrongful death.

Slip and Fall Injuries

Slip and Fall Injuries

Slip and fall accidents occur regularly in commercial buildings, workplaces, stores and malls.

Auto Accidents

Auto Accidents

Auto accidents are frequently preventable, with distracted drivers, vehicle malfunctions and other conditions to blame.