An estate plan is not something that many people want to think about. Facing our own mortality is not always an exciting conversation, but putting an estate plan in place is something that everyone should do. This can ensure that your estate is distributed according to your wishes, and it can also save you some money on taxes.
Failing to put a plan in place could cause big problems for your family down the road. Without a proper estate plan, you do not have control over how your assets will be divided. Your estate could also end up in court and stay tied up in costly litigation for months or even years. Contact the Austin real estate attorneys at Porter Law Firm today to let us help you get a plan in place that helps protect your property and achieve your goals.
Why Choose Us?
Porter Law Firm has become the go-to firm for clients in the Austin area for all their estate planning needs. Our experienced team has been helping clients protect their interests since 2009, and we can help you, too. There are many reasons why clients turn to us when they need an estate plan. Some of these reasons include:
- We take the time to get to know each client so that we can fully understand their needs and goals
- Our experienced team knows the common pitfalls associated with estate planning, and we can help you avoid them
- We offer the speed and flexibility of a small boutique firm but have all the resources of a much larger firm
Contact us today to let us get started learning more about your goals and objectives. We will get started right away, helping you plan for your and your family’s future.
How Can an Austin Estate Planning Lawyer Help Me?
No matter how big or how small your estate is, you need a plan in place to make sure that things are handled in the manner in which you want. Some people believe that only extremely wealthy people need estate plans, but that could not be farther from the truth. Even if you only have a few assets, you can still benefit from an estate plan. An estate planning lawyer in Austin can help you by:
- Reviewing your assets to determine the best estate planning strategy for your situation
- Drafting documents, such as wills and trusts, that will help you achieve your estate planning goals
- Properly accounting for potential issues and addressing those through your estate plan
- Using experts who can help find ways to reduce your estate’s tax burden
If any disputes have been raised regarding your estate, an Austin business litigation attorney can help navigate the complexities of estate-related lawsuits. If you have never put an estate plan in place or you have not reviewed your plan in more than a year, contact Porter Law Firm today. Let us help you review your situation and your objectives and get a plan in place to help you achieve those.
Overview of Estate Planning
Estate planning is necessary so that your assets will be distributed according to your wishes when you pass away. If you die without an estate plan, then your assets will be distributed according to the intestate succession laws in Texas. In many cases, these laws may not align with how you would choose to distribute your assets.
For example, if someone dies without a will in Texas and does not leave a surviving spouse, their estate will be passed equally to their children and children’s descendants. If they have no children, the estate will pass to their mother and father equally. However, if the deceased person has a surviving spouse and children, one-third of the estate will pass to the surviving spouse, with the remaining two-thirds going to the children.
For individuals with property holdings, strategic planning is crucial. An Austin commercial real estate lawyer can assist in structuring property ownership and transfers to minimize disputes and ensure assets are protected.
The intestate succession laws can often get complex, and there can be lengthy court battles that ultimately decide how the estate will be distributed. Instead, having an estate plan can avoid all that confusion. Some common documents used in estate planning include:
- Wills
- Trusts
- Durable power of attorney
- Advance healthcare directive
- Beneficiary designation forms
Remember that a comprehensive estate plan includes more than just a will that directs how your assets will be distributed. An estate plan can also include insurance, beneficiary designations, and property or asset transfers that are completed during your lifetime. Estate planning is the overall process of handling your estate as well as putting plans in place to help take care of your family in the event of your passing.
If your estate includes residential or commercial properties within a homeowners’ association, ensuring compliance with HOA regulations is essential. An Austin Property Owners’ Association attorney can provide legal insight on property management and estate transfers within association guidelines.
How Much Does an Estate Planning Lawyer Cost?
The cost of putting an estate plan in place can vary depending on your specific situation. The more complex your estate plan is, the more it is likely to cost. Typically, larger estates are more complex and will require more planning than smaller ones. Thus, these estate plans usually cost more. Some of the factors that can influence the cost of your estate plan include:
- The size of your estate
- The complexity of your plan
- Your lawyer’s experience level
- The types and number of estate planning documents needed
The best way to determine how much it will cost you to get a proper estate plan in place is by scheduling a consultation with an estate planning lawyer in Austin. Contact the team at Porter Law Firm today to let us walk you through all the steps necessary to get a comprehensive plan in place for you. We can answer all your questions and tell you how much it will cost to get your plan in place.
Contact an Austin Estate Planning Attorney Today
If you need to get an estate plan in place, contact Porter Law Firm today to let us help. Our experienced team can walk you through the entire process and help make sure that your plan aligns with your goals. Do not wait until it’s too late to start planning how to protect your family. Let the Austin estate planning lawyers at Porter Law Firm learn all the details about your situation, and we can advise you on the best strategy to get your desired outcome. Reach out today at (512) 381-1577 or fill out the form to schedule an initial consultation and get the process started.