WILLS AND ESTATE PLANNING
Walker Bright PC’s estate planning attorneys provide clients throughout Texas, especially in the Austin, Houston, and Dallas metros areas, with representation for all of their estate planning needs. We consult with you on using the right estate planning tools to meet your goals.
Estate planning can be defined as the process used to distribute an estate according to the wishes and goals of the owner. Estate planning is a vital part of financial planning and should be a concern of everyone with a family. Many people think that estate planning is a process used only for those with considerable assets and wealth. This is simply not true. Even for those with modest assets, estate planning can allow for a smooth transfer of assets that benefits all parties involved. The following are a few topics that Walker Bright’s estate planning attorneys can assist you with.
A will is the basis for any estate plan, no matter the size. A qualified attorney should be consulted to draw up the will. A will ensures proper inheritance and can help minimize taxes. In addition to this will, you should also include a durable power of attorney as well as a living will. A durable power of attorney designates who helps take care of you and your property in case of incapacity. A living will provides personal instructions regarding the use of life-sustaining measures.
Tax law regarding estate planning can be complex and is constantly changing. For example, in 2009, there will be no federal tax on estates up to $3.5 million. Unless Congress acts, in 2010 this number will be unlimited and then will revert back to $1 million in 2011. There are many vehicles available to minimize estate taxes such as bypass trusts or life insurance trusts. In the end, having a tax efficient estate plan could save your beneficiaries tens of thousands of dollars.
Everyone wants to retire at some point. Efficient retirement planning is necessary to reach your retirement goals. Especially with the recent turmoil in the equities market, it is now more important than ever to make sure your retirement planning is on track. On top of the volatility, tax laws and rules regarding 401(k) and IRA contributions change from year to year. Walker Bright PC help you put together and execute a retirement plan that will help you reach your retirement goals.
Estate Planning Services Provided by Walker Bright PC
- Appointing an executor
- Directives to Physician
- Drafting wills
- Estate Planning
- Financial Planning
- Living Wills
- Retirement Planning and Analysis
- Starting the probate process
- Taxation Analysis and Tax Law
- Trust Law and Implementation of Trusts
- Will revisions
- Will contests