Wednesday, January 12, 2011

Will Lawyer in Houston Explains Why You Need An Estate Plan NOW

By: Kimberly Hegwood, Will lawyer in Houston

As a will lawyer in Houston, I know most of us spend a considerable amount of time and energy in our lives working for our families and accumulating wealth.

But unless you are careful, all of it will be going to waste.

That is why a well-crafted estate plan is so critical. It ensures that your hard-earned wealth (including intangible, non-financial assets) can pass intact to those you intend to be your beneficiaries, instead of being siphoned off to government processes and bureaucrats or even being lost. We all dislike handing over our resources to those who don't have our best interests in mind.

Our estate plans guarantee that this will NEVER happen to your family!

"But Kimberly, what happens if I don't create an estate plan? Doesn't the judicial system have easy steps in place for families?"

Yep, and it is called "probate" (Latin for "prove the will"), and it is an ugly process.

You see, "Harris County probate" guarantees government interference in how you transfer your estate (however large or small). Documents must be filed and approval must be received from a court to pay your bills, pay your spouse an allowance, and account for your property. Oh, and even worse--it all takes place in the public's view.

If you fail to plan your estate, not only do you lose the opportunity to protect your family from an impersonal, complex governmental process (that is a burden at best) but it is slapped across the public domain for all to see.

Then, of course...there's taxes. You think the government is incentivized to keep those low on your behalf? There is a variety of solutions for each family's particular situation...but the plain fact is that working without a plan is U-G-L-Y no matter how you slice it.

When it comes right down to it, planning is a gift for your family (the people you love most) because if you don't take care of things while you are living and able, they will have a mess to clean up when you are gone.

Next week, I will give you a very simple tool, which will help you put a good plan in place.

But, if you want a head start (and I don't blame you), send me an email, or give us a call: 281-218-0880 -- and we'll get this process started for you.