Service
Estate Planning
No matter your age, wealth, or position in life, planning for your future is a great idea. Many people think estate planning is more complicated than it typically is. As a result, they tend to procrastinate and delay putting a firm plan in place. However, at its core, estate planning is simply a way to let loved ones know your wishes and desires. Uneasiness around death and incapacity causes some people to put off estate planning, but this only works to ensure you have no say or control in what happens to you or your estate in the future. By creating a detailed plan today, you can eliminate future misunderstandings or disputes, and give yourself and your family peace of mind.
Remember, estate planning is not just a tool of the wealthy – anyone who wants to make informed decisions about their health, finances, and family should consider creating a detailed estate plan.
Ethan Baker of The Law Office of Ethan Baker, PLLC, wants to help you get started today. Personalized estate planning services that prioritize the well-being of you and your family are only a short phone call away. Contact our team to learn how you can begin protecting your future.
Overview of Estate Planning Services
There is no one-size-fits-all solution when it comes to estate planning. That is why you hire an experienced and knowledgeable estate planning attorney to guide you through the process. We are here to help by providing the following services:
Estate Planning Services
Wills
Crafting a will is a fundamental part of estate planning, serving as a cornerstone document that helps determine asset distribution after your passing. However, a properly drafted will should often include more than property and asset distributions, such as guardianship designations for minor children, specific funeral arrangements, digital asset management, and instructions for pets, thus, allowing you to take control over your future and your estate.
Durable Power of Attorney
This document allows you to appoint someone you trust to take control and manage your financial affairs under certain circumstances. This could be due to reasons like an accident, illness, or even temporary unavailability – think of a scenario where you’re in the hospital or stuck abroad and need someone to handle your financial matters in the interim. Through a Durable Power of Attorney, you can maintain financial continuity and safeguard your assets in the event of unforeseen circumstances.
Medical Power of Attorney
A Medical Power of Attorney empowers a designated individual to make healthcare decisions on your behalf. During medical emergencies where quick, informed decisions need to be made regarding your treatment, this document can make a world of difference. In Texas, this power only comes into effect upon your incapacity, ensuring that your healthcare choices are made according to your wishes when you cannot communicate them yourself.
Trusts
Trusts provide you with a wealth of options for managing your assets. They come in two main types: revocable and irrevocable. Revocable trusts give you much more control over your assets during your lifetime, with the flexibility to adjust the trust as you see fit in the future. This type of trust is perfect for those seeking a hands-on approach and more active control. On the other hand, an irrevocable trust is fixed and cannot be easily altered once established. It offers benefits like asset protection and potential tax advantages, making it suitable for long-term estate planning goals. The choice between these trusts depends on your specific needs and objectives.
There are many other preparations you can make after discussing your situation with an attorney. While all these options may seem overwhelming, the best part of working with an attorney for your estate planning needs is the vast amount of experience they bring to the table. Ethan Baker and his team are committed to guiding you through these complex aspects of estate planning and keeping you informed of the ramifications of your choices at all times. For more information or to begin drafting your personalized estate plan, contact us today at
281-993-8192.
Who Needs Estate Planning?
As we mentioned, everyone can benefit from estate planning – but certain members of the population have a more urgent need for detailed plans.
1. Parents with Minor Children
If you’re a parent with minor children, proper estate planning gives you confidence that your assets are appropriately passed on and contributing to your children’s future. In your estate plan, you can designate a guardian for your children, avoiding a court decision in your absence. This plan can also include setting up trusts to manage assets for your children until they reach adulthood. Life insurance policies can also be integrated into your estate plan to provide long-term security for your children’s education and living expenses.
2. Individuals with Significant Assets or Investments
If you’ve accumulated substantial assets, including real estate, investments, or a business, estate planning becomes even more important. Proper estate planning helps efficiently transfer these assets to the intended beneficiaries, and avoids unnecessary delays and expenses.
3. Aging Individuals Planning for Incapacity
As you age, the possibility of becoming incapacitated due to health issues increases. Early formation of trusts and wills gives you the most time to reflect and adjust your estate plan, but it is never too late to take control of your finances and future decisions. Life is precious, and knowing that your desires regarding medical care and end-of-life decisions will be respected through a proper estate plan often provides a feeling of safety and security.
As you look towards securing your future and safeguarding your family’s well-being, estate planning should be at the top of your to-do list. At The Law Office of Ethan Baker, PLLC, we don’t just offer legal solutions – we provide peace of mind and tailored advice to each and every client.
If you are looking for a trusted local partner to start your estate planning journey, call us today. Take the first step in securing a future that reflects your vision and values.
Physical address
107 Shadwell Lane, Suite 103
Friendswood, Texas 77546
Mailing Address
P.O. Box 309
Friendswood, Texas 77549
Telephone
(281) 993-8192
Fax
(281) 990-6711
ebaker@thebakerfirm.com