Marble Falls Estate Planning Attorneys
Preserving your legacy and providing for your loved ones
Estate planning can be a daunting task for many individuals as it involves addressing difficult questions such as what will happen to their family after they pass away, who will make important decisions for them in case of incapacitation, and whether their legacy will be honored.
However, by engaging in the estate planning process, one can achieve a sense of comfort and security knowing that their assets, legacy, and loved ones will be protected regardless of what the future holds.
To take the first step towards achieving this peace of mind, individuals can seek the assistance of a Marble Falls estate planning attorney. The professionals at Shann M. Chaudhry, Esq., Attorney at Law PLLC, offer tailored and effective estate planning services that enable clients to plan for their future and ensure the well-being of their families.
If you are ready to draft your estate plan or have any questions, please reach out to us. We are happy to help you navigate through the process.
Estate Planning Defined
At its core, estate planning is a comprehensive process that involves managing your finances, assets, business, and medical decisions in case of incapacitation or death. A well-rounded estate plan is comprised of various legal documents that serve a greater purpose than simply distributing assets or delegating power of attorney to specific family members.
By establishing a thorough estate plan, you can mitigate the impact of estate taxes on your family, ensure that your chosen guardians will care for your children, and protect your family’s privacy during challenging times.
Our Unique Approach to Estate Planning in Marble Falls
We prioritize understanding and empathizing with each of our clients to ensure that their unique needs and concerns are addressed throughout the estate planning process. Our team of estate planning attorneys in Marble Falls is dedicated to helping you create a personalized estate plan that will provide peace of mind and protect your family and legacy.
Our approach to estate planning is comprehensive and tailored to your individual circumstances. We can assist you in articulating your preferences for your legacy and inheritance, reducing the impact of estate tax laws, selecting guardians for your estate, yourself, or minor children, legally stating your medical preferences, and designating someone to make medical and financial decisions on your behalf in case of incapacitation.
By working with our team, you can rest assured that your estate plan will be customized to your needs and priorities, providing a clear and straightforward roadmap for your future.
Our Marble Falls Estate Planning Services
As everyone’s finances, family, and goals are distinct, we offer a comprehensive array of estate planning services at our Marble Falls, Texas office. Our goal is to assist our clients in developing innovative and tailored estate planning techniques that are customized to their specific circumstances.
Last Will and Testament
Your estate plan’s cornerstone is your Last Will and Testament, which is a crucial legal document. It outlines who will inherit your assets and property after you pass away and who will manage your estate until its distribution.
Last Will and Testament
Your estate plan’s cornerstone is your Last Will and Testament, which is a crucial legal document. It outlines who will inherit your assets and property after you pass away and who will manage your estate until its distribution.
Revocable living trust
Incorporating a revocable living trust into your estate plan can help minimize tax obligations and safeguard your beneficiaries’ privacy by avoiding your assets from going through a public reading of your will or probate.
Medical power of attorney
By assigning a Medical power of attorney (POA), you can designate a legal healthcare representative to act on your behalf if you become incapacitated. This individual can make medical decisions on your behalf in accordance with any guidelines or preferences you have previously specified.
Medical power of attorney
By assigning a Medical power of attorney (POA), you can designate a legal healthcare representative to act on your behalf if you become incapacitated. This individual can make medical decisions on your behalf in accordance with any guidelines or preferences you have previously specified.
Durable power of attorney
An advanced directive for durable power of attorney (POA) appoints an individual to assume responsibility for your property, financial affairs, and other legal or business matters if you become incapacitated.
HIPAA Release
HIPAA, which stands for the Health Insurance Portability and Accountability Act, is a federal law that set a nationwide standard for maintaining the confidentiality of a patient’s medical information. HIPAA is the reason why it is unlawful for a medical professional who is also a family member to reveal the medical diagnosis of a mutual acquaintance.
HIPAA Release
HIPAA, which stands for the Health Insurance Portability and Accountability Act, is a federal law that set a nationwide standard for maintaining the confidentiality of a patient’s medical information. HIPAA is the reason why it is unlawful for a medical professional who is also a family member to reveal the medical diagnosis of a mutual acquaintance.
Living Will
A living will, which is also referred to as a directive to physicians, outlines your preferences regarding treatment or non-treatment in the event that you are diagnosed with a terminal or irreversible condition.
This document enables you to specify, for instance, that you do not wish to be placed on life support if faced with a terminal ailment, thereby safeguarding your preferences and potentially offering reassurance to loved ones who are curious about your desired course of action.
Selection of Guardian for Self and Estate
Selecting a guardian can provide peace of mind that everything will be appropriately handled. A guardian for oneself is authorized to make legal decisions on your behalf if you become incapacitated, while a guardian for the estate is responsible for making legal decisions for the estate itself. Both types of guardians are supervised by the court.
Selective of Guardian for Self and Estate
Selecting a guardian can provide peace of mind that everything will be appropriately handled. A guardian for oneself is authorized to make legal decisions on your behalf if you become incapacitated, while a guardian for the estate is responsible for making legal decisions for the estate itself. Both types of guardians are supervised by the court.
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Selective of Guardian for Minor Children
The selection of a guardian for minor children requires careful and thoughtful deliberation. Choosing a guardian enables you to select the individual you wish to take care of your children in case you become incapacitated, rather than leaving it to a court to appoint a guardian without knowledge of your preferences.
Elder Law Planning
Elder law planning involves protecting a portion of your assets to ensure that you are well-cared for during your lifetime, particularly when it comes to long-term care needs. This can include planning for care in a nursing facility or in your own home.
Elder Law Planning
Elder law planning involves protecting a portion of your assets to ensure that you are well-cared for during your lifetime, particularly when it comes to long-term care needs. This can include planning for care in a nursing facility or in your own home.
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Non-probate asset planning
Incorporating non-probate asset planning into your estate plan can offer your family or beneficiaries increased privacy since these assets are not subject to wills or probates. Non-probate assets can encompass assets held in a revocable living trust, those payable upon death such as life insurance, and co-owned assets like property. By accounting for non-probate assets in your estate planning, you can pass on your inheritance to your loved ones in a private manner.
What It’s Like Working With Our Marble Falls Law Firm
At our Marble Falls firm, we prioritize creating an estate plan that is tailored to your unique goals and concerns through a personalized approach. Our firm offers multiple packages that include the necessary documents and guidance to meet your estate planning needs. We typically start with a basic plan and then address more intricate issues for clients who require more complex planning. Our client-centric approach ensures that you don’t have to worry about choosing the right plan initially, as we will work together to determine what is best for your situation
Helping You Implement Your Estate Plan
Developing the legal documentation for your estate plan is just the beginning. It’s crucial to have a clear plan for implementing your estate plan, and at Shann M. Chaudhry, Esq, PLLC., we recognize the importance of this step. We take the same level of care when implementing estate plans as we do when creating them.
Our firm offers trust administration services, including compliance with estate tax regulations and trust administration during and after your lifetime. We also assist our clients with probate, providing support to their executors and beneficiaries throughout the process to ensure that assets are distributed properly.
Moreover, we provide our clients with access to our long-term Client Care Program. This program guarantees ongoing estate plan support, including regular reviews by our staff and the opportunity to make basic revisions as necessary. With our Client Care Program, you can rest assured that you’ll be prepared for whatever life changes may occur, and regardless of any changes to laws.
Our team collaborates with any other professional advisors you may work with, such as financial advisors, and we conduct family meetings to discuss your estate plan. These measures help to promote greater transparency in your estate plan.
Schedule Your Consultation With a Marble Falls Estate Planning Attorney Today
If you’re uncertain about starting your estate plan or if you already have one but are unsure if it meets your needs, our team is available to assist you. Please reach out to our office to arrange a consultation today.
Texas Estate Planning FAQs
What is the process for estate planning in Texas?
The estate planning process varies by individual. That said, a Will is usually the first step. This ensures that your property is distributed in the way you want—and not by the Texas court, which will distribute your property according to how closely related people are to you by blood.
If you have children and no Will, your spouse won’t automatically inherit everything when you die.
Typically, people also strategize with their attorney as to what to put into a revocable living trust—which isn’t subject to probate and reduces tax burdens. Likewise, choosing power of attorney requires introspection and careful consideration.
Ultimately, the estate planning process varies according to assets, potential surviving family members, and individual tastes and preferences.
What estate planning documents do I need?
At our Texas estate planning law firm, we believe that estate planning is an individualized process.
That said, everyone would benefit from having a:
- Will and Testament
- Durable power of attorney
- Medical power of attorney
- HIPAA Release Form
- Directive to Physicians
- Selective of Guardian for Self & Estate
Many people would also benefit from having a revocable living trust and other trusts, according to their preferences and planned beneficiaries. Likewise, those with minor children would want a Selective of Guardian for Minor Children.
What is the cost of an estate planning attorney in Texas?
The cost of estate planning varies slightly according to the complexity of the estate and individual preferences. Generally, the more time needed to prepare your estate documents, the more it costs.
However, once prepared, legally sound documents only need to be updated as your preferences or life circumstances change to create a solid, lasting estate plan.