Estate Planning Services

The goal of estate planning is to ensure an orderly disposition of your property at your death or incapacity. Estate planning is intended to preserve property, maximize distributions to beneficiaries, avoid unnecessary and costly probate procedures and ensure that your property is distributed according to your terms.

Almost everyone needs an estate plan, regardless of the size of the estate. The basic estate plan consists of a Last Will and Testament, a Living Will, a Medical Power of Attorney and a Financial Power of Attorney. This is the minimum that I would recommend for anyone regardless of age or net worth. These four documents will give your family the peace of mind and direction they need, if you should pass or become incapacitated. Within these documents we can also nominate guardians and trustees for your minor children or dependents. Incapacity planning is a very important part of Estate planning. Your Powers
of Attorney would nominate someone of your choosing, who can make decisions for you, should you be unable to make them for yourself.

Understanding Estate Planning

Estate planning is a legal process that facilitates the organized transfer of property and assets in anticipation of death. This meticulous process aims to preserve the maximum estate for beneficiaries while ensuring a seamless transfer. Your estate, comprising personal and real property, can be distributed according to your wishes through various Texas estate planning tools.

Common Estate Planning Tools

Your estate plan may involve a combination of tools suited to your specific circumstances.

  • Wills: A legal document dictating the distribution of your property and assets, allowing for the appointment of guardians and executors.
  • Trusts: Legal entities enabling the transfer and management of property for beneficiaries, offering flexibility with types such as testamentary trusts, irrevocable trusts, revocable living trusts, and more.
  • Powers of Attorney: Documents empowering trusted individuals to make decisions on your behalf, covering financial, legal, healthcare, and other aspects.
  • Estate and Gift Taxes: Considerations for tax implications, especially in high net-worth estates, involving taxes imposed during the lifetime or after death.

What an Estate Planning Attorney Can Do for You

In Texas, an experienced estate planning attorney can provide valuable legal services.

  • Drafting guidelines for your care in case of incapacitation
  • Preparing instructions for passing down your values
  • Making provisions for beneficiaries and addressing creditor protection
  • Naming beneficiaries for retirement accounts and life insurance proceeds
  • Facilitating the transfer of your business upon death, disability, or retirement
  • Appointing a guardian for minor children
  • Providing for loved ones with special needs while safeguarding government benefits

Consult an Experienced Estate Planning Attorney

Whether you're initiating or refining your estate plan, trust our team of experienced estate planning attorneys to guide you through the process. Contact The Borger Law Firm PLLC today at (832) 263-2100 or submit your questions via the form below. Our law firm is located in The Woodlands, serving clients in Montgomery County and throughout Texas.