Could I use Texas estate planning services? The answer is yes – everyone should plan for the organization of their estate. If you have assets that you want control over, then you need to plan for the distribution of your estate. Dying without a plan allows the state of Texas to make the decisions. The Texas estate planning services offered by Ostrom Morris include:
Living Wills in Texas
An official will that satisfies the requirements of the law is the best way to ensure that your beneficiaries are well protected. Living wills in Texas must contain certain provisions to be valid. The estate planning attorneys at Ostrom Morris can help you confidently establish control over your property. Legal wills tell the courts and your beneficiaries exactly how your assets should be handled after death. Assets can be split in two categories – tangible and other estate forms.
Tangible Assets – these are the physical items that sometimes hold family history or sentimental value. They are often prized by many of your family members. Examples include:
- Collections – coins, antiques, fine china
Other Estate Forms – non-tangible gifts can take a variety of forms and be more complicated to divide. The Ostrom Morris estate planning attorneys will help you consider the future of these assets and the heirs you select. These gifts include:
- Securities – mutual funds, stock and bond accounts
- Franchise Rights
- Intellectual Property
Power of Attorney
Transferring your legal rights to another power requires having a formal power of attorney document drafted by an estate-planning attorney. There are several forms of Texas powers of attorney, and the Ostrom Morris team can help you decide what form is best for you:
- Durable Power of Attorney
- Medical Power of Attorney
- General Power of Attorney
- Special Power of Attorney
Trusts in Texas
Trusts in Texas come in several varieties. Choosing the best trust depends on your needs. Most trusts are created while a person is still living and creates responsibility for an estate. There are methods for modifying a trust in Texas, but that can be problematic. Tax reasons are the most common issue when changing a trust. The Texas probate attorneys at Ostrom Morris can help you decide if a trust is the best estate planning choice.
Estate Planning Attorney Help
Estate planning can be an afterthought, but wills and trusts all have a place in organizing your assets and arranging distribution to your descendants. A lawyer is the best source of information on all matters relating to the transfer of property in Texas. The Texas estate planning attorneys at Ostrom Morris can answer all your questions and concerns, fully explain your options to safeguard your property.