El Paso, TX Estate Planning Lawyer
Planning for the future and getting your affairs in order can be an emotional process. Many people put it off because they don’t want to make tough decisions or think about a future where they’re not around to take care of their loved ones, or because they think they’ll have plenty of time to prepare later on in their lives. Sadly – but realistically – no one is guaranteed more time! If you pass away unexpectedly, or something else happens to you and you don’t have the right legal documents in place, your family could be left in a difficult financial position. Your wishes may not be honored, and the assets you’ve worked so hard for may be depleted!
That’s why it is in your best interests to work with our experienced El Paso estate planning lawyer & CPA, Jorge Villegas, to create a comprehensive, custom estate plan. Call today to schedule a free consultation and learn more about your next steps!
What Does Estate Planning Involve?
An estate plan is actually a collection of legal tools that all have a specific purpose related to clarifying your desires, securing your assets, or providing for your family member’s needs.
At the minimum, an estate plan should include a will, power of attorney, and physician’s directive, but everyone’s life is different, and your estate plan should be tailored to meet your specific circumstances. For example, if you have minor children, your estate plan should include guardianship designations. If you own a business, your estate plan should include a business succession plan. If you’re particularly wealthy, your estate plan should include a tax savings plan. Most estate plans should also include a trust in order to bypass probate (a complicated Texas court process).
Cookie cutter plans or online downloadable templates will likely end up doing more harm than good, as they may not be compliant with state laws or legally enforceable. At Villegas Law Firm, our El Paso estate planning lawyer can ensure that you know all of the options available to you and then draft a completely personalized plan that will be effective!
What Will Having An Estate Plan Do For You?
Estate plans are not only for after your death – they are also meant to be used during your lifetime to keep your hard-earned money safe and make sure it doesn’t fall into the wrong hands! If you get divorced, or run into financial trouble and need to file for bankruptcy, or suffer an injury and need to enter a nursing home, an estate plan keeps your life savings from being lost.
However, the biggest reason you should get an estate plan is not for you, but for those you love. An estate plan essentially gives your loved ones a legal roadmap for what to do when you’re not around, or not able, to tell them. They’ll know exactly what you would have wanted to happen to you if you fall ill and need life-sustaining care, like a ventilator. They’ll know what you wanted your funeral to be like. They’ll know who you wanted to keep family heirlooms, who you wanted to raise your kids, who you wanted to inherit the proceeds from your house, what you wanted to happen to your business. They won’t have to go through probate before being able to receive the money you left behind for them, and they will be able to move forward with their grief faster.
Without an estate plan, your family may fight over what your wishes were, and it may not even matter what they end up deciding because ultimately Texas courts will decide for them. That’s not the kind of legacy you want to leave behind!
How Our El Paso Estate Planning Lawyer Can Help
Because Jorge Villegas has over 15 years of experience and is also a Certified Public Accountant, his insight and knowledge can give you an advantage and make the planning process as smooth as possible! He will answer your questions and guarantee that no matter what the future holds, everything and everyone who matters most to you will be protected. Don’t wait until it’s too late! Call for your free consultation now.