Search Site
Menu

Planned Parenthood: Using Your Estate Plan to Guide the Next Generation

People often think of estate planning as an exercise for the wealthy or elderly.  The reality for parents is that estate planning is your opportunity to decide how the assets you gather during life will be utilized to shape your family’s future.

Your estate planning opportunities are not limited to cookie-cutter gifts to your spouse with the remainder left outright to your children.  Instead, there are a number of tools available to help parents (a) set goals for their children, (b) protect assets from divorce or creditors, (c) utilize your assets as a start for their early retirement, or (d) decide who will get control v. income from the family business (it can be different if one child has a greater interest or propensity for running the business).

In blended families, parents with outside children often have a competing interest to provide for their surviving spouse while leaving a gift to their prior children.  Sometimes these concerns are addressed by funding gifts through a variety of different investment vehicles.  An estate planner can create a plan that gives the surviving spouse broad discretion to use funds during life but irreversibly leaves the remaining assets to established beneficiaries (e.g. prior children) after the surviving spouse passes.

In short, estate planning is a good planning tool for an estate of any size.  For many people their home is the most significant asset they own.  So why wouldn’t we expect it to be the most significant gift that our children will receive, and why wouldn’t we want to have a plan in place to ensure that our plans for our child survive beyond the accident of death?  An experienced estate planning attorney can help you explore a plan that fits your family, your plans and your goals.

The Strong Firm P.C.

Phone: 281-367-1222

Fax: 281-210-1361

[email protected]

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Your email address will not be published.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 2021

    The Strong Firm prevails in dispositive motion regarding Texas economic loss rule resulting in dismissal of claims again party.

    Read More
  • Spring 2019

    The Strong Firm successfully forecloses first priority lien against multi-million dollar commercial asset.

    Read More
  • Spring 2021

    The Strong Firm secures writ of reentry after unlawful lockout of commercial tenant.

    Read More
  • Spring 2021

    The Strong Firm prevails in writ of mandamus proceeding involving denial of temporary restraining order to stop foreclosure sale.

    Read More
  1. 1
  2. 2
  3. 3
  4. 4
  5. 5
  • Peer Rated 2022 Award
  • Clio Client-Centered Certification

Recent Blog Posts

Kelly Sullivan Joins The Strong Firm P.C. As Senior Counsel

The Strong Firm P.C. is excited to announce the addition of Kelly Sullivan to its team of experienced attorneys. Kelly adds exceptional strength to the firm’s established practice areas based on her wealth of experience in the areas of Litigation, Labor and Employment Law, Business Law and Governmental Law, Zoning
Read More
Kelly Sullivan Joins The Strong Firm P.C. As Senior Counsel

The Future of Non-Compete Agreements: Executive Order on Promoting Competition in the American Agreement

In July 2021, President Biden signed an Executive Order aiming to limit the use of restrictive covenants in employment relationships. Opening with the premise that “a fair, open, and competitive marketplace has long been a cornerstone of the American economy, while excessive market concentration threatens basic economic liberties, democratic accountability,
Read More
The Future of Non-Compete Agreements: Executive Order on Promoting Competition in the American Agreement

Estate Planning: A Sophisticated Plan for Complexities

More sophisticated estate planning may be appropriate for people that: have sufficient net worth to consider tax planning; own assets in more than one state or jurisdiction; highly prize privacy; have blended families, and/or have a history of family discord (“Complicating Factors”). In 2022, the net amount a person can have
Read More
Estate Planning: A Sophisticated Plan for Complexities

Estate Planning: A Plan for Everyone

A common misconception is that estate planning is for the wealthy, with an abundance of assets, including retirement plans, life insurance and annuities. However, the truth is that everyone over the age of 18, regardless of wealth, socioeconomic class or marital status should have a basic estate plan designed for
Read More
Estate Planning: A Plan for Everyone
  • 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