Search Site
Menu
Estate Planning: Planning for the Fabulously Middle Class

Most people recognize the value proposition that estate planning offers to the wealthy because the proper plan can be used to reduce or eliminate estate taxes.  However, estate planning also offers a value proposition to those of modest or moderate means.  An estate plan can be used to reduce the costs, expenses and effort of probating your estate and (maybe more importantly) can avoid conflicts between loved ones by establishing your wishes in advance.

Probate attorneys often comment that their client started litigation because the executor is not doing what their deceased loved one would have wanted.  Stated another way, the living are fighting to honor the wishes (as they understand them) of the deceased.  A good estate plan removes the guess work regarding your wishes by telling your loved ones what you want, thereby removing the motivation to expend resources fighting.

A well-crafted estate plan will do more than direct where your property should go once you pass.  Your estate plan should also state who will make financial or medical decisions for you while you are alive but unable to make them for yourself (i.e. if you are alive but incompetent).  Your documents should also include your burial instructions or, at least, tell your survivors who you want to make burial decisions for you.

Entering into an estate plan gives you the opportunity to define your legacy by setting out your decisions regarding how you want your property and your body to be handled.  By removing the guess work you also remove the pressure on your loved ones to fight to honor their vision of your legacy.  Take some time to think about your wishes and then meet with an estate planning attorney to get those wishes put into place.

Leave a Reply

Your email address will not be published. Required fields are marked *

Contact a Dedicated Texas Business Lawyer To Schedule a Consultation
Call 281-367-1222 or contact us online to schedule a meeting.

Strong In Action

  • Spring 2019

    The Strong Firm represents borrower in $42.3 million HUD construction loan for multifamily real estate development in Walton County, Florida.

    Read More
  • Spring 2019

    The Strong Firm acts as legal counsel for borrower in $32.1 million HUD construction loan for multifamily real estate development in Conroe, Texas.

    Read More
  • Spring 2019

    The Strong Firm aids borrower in $31.7 million HUD construction loan for multifamily real estate development in Nueces County, Texas.

    Read More
  • Spring 2019

    The Strong Firm represents borrower in the refinancing of a $3.57 million commercial mortgage-backed security for a commercial office facility in Montgomery County, Texas.

    Read More
  1. 1
  2. 2
  3. 3
  4. 4
  5. 5
  • Peer Rated 2021 Award
  • Clio Client-Centered Certification

Recent Blog Posts

COMMUNITY AND SEPARATE PROPERTY IN TEXAS: OWNERSHIP AND CONTROL

COMMUNITY AND SEPARATE PROPERTY IN TEXAS: OWNERSHIP AND CONTROL Texas law characterizes property acquired by spouses either community or separate property when property is acquired, and this characterization has tremendous consequences. w defines a spouse’s "separate property" as: (1) property owned or claimed by the spouse before marriage; (2) property acquired during
Read More
COMMUNITY AND SEPARATE PROPERTY IN TEXAS: OWNERSHIP AND CONTROL

Scams in Times of Disaster and Emergency

Scams in Times of Disaster and Emergency While Texans are generally prepared for major weather-related disasters during hurricane season from June through October, occasionally a rogue weather event, such as an artic blast, sweeps across the state causing severe and unanticipated property damage to residential and commercial properties. As individuals and
Read More
Scams in Times of Disaster and Emergency

Legislation Authorizes Paid Sick Leave for Workers Suffering from Coronavirus

New legislation passed in response to the COVID-19 pandemic allows certain workers to receive paid sick leave even if their employer previously did not provide it. In March, the federal government enacted the Families First Coronavirus Response Act (FFCRA). This law assists employers that give their employees paid time off
Read More
Legislation Authorizes Paid Sick Leave for Workers Suffering from Coronavirus

Lenders Suspend Home Foreclosures Due to COVID-19, But What Happens Next?

Many large financial institutions are suspending foreclosures because of the massive economic damage caused by COVID-19. Some banks have stopped proceedings indefinitely. Others have set time limits for foreclosure suspensions such as 60 or 90 days. Even as health and financial issues remain uncertain, this is a good time for
Read More
Lenders Suspend Home Foreclosures Due to COVID-19, But What Happens Next?
  • Video Vault


    Watch videos done by our legal team to gain a better understanding of your legal needs. Our lawyers give video insight into areas such as Real Estate, Business Law, Mergers & Acquisitions and much more.
Contact us

Quick Contact Form