Strategic services to manage your estate and protect your assets now and in the future. These services are available for all levels of income and investments.
Strategic estate planning: A vital part of your financial plan to protect your legacy
Regardless of your income, the size of your investment portfolio, or your place in life, estate planning is essential to protect your assets for your loved ones and to prevent state laws from controlling the distribution of your assets. Working with an estate planning attorney is the best way to plan ahead so you have more security, control, and privacy for your financial future. Whether you are just starting a new estate plan or need help optimizing your current plan, our team at Monceaux Law Firm is here to help.
With over 15 years of experience in estate planning, we have the experience and knowledge to not only design an effective plan but also help you navigate the process after losing a loved one. Estate planning gives you peace of mind and protects your loved ones from stress and uncertainty in the future.
Practice Areas:
Protect your family and assets with estate planning
Even though estate planning might seem like something you don’t need for many years, you never know what life has in store. It’s best to get started with estate planning as soon as possible to prepare you for anything that might happen.
One of the biggest misconceptions about estate planning is that these legal services are only necessary for wealthy individuals. But the truth is that people at all income levels will benefit from estate planning, regardless of their income, net worth, age, and marital status.
When you choose Monceaux Law Firm, rest assured that we offer personalized estate planning for every client. Our team takes the time to listen to your needs and understand your goals for the future. Then, we provide legal counsel to navigate the estate and probate laws, so that everything is structured in your favor and in accordance with your wishes.
What is included in Estate Planning?
Each estate plan is unique, but there are standard documents often included in an estate plan:
- Will:
- This document outlines how your assets will be distributed after your passing and who is responsible for distributing your assets (Executor). Additionally, a will can include other information, such as who will care for your minor children or pets in your care.
- Trust:
- In addition to a will, it’s also a good idea to have a trust to be the legal backbone for your will. This trust designates how assets should be used after beneficiaries receive them. Trusts are also beneficial for tax strategy since taxation depends on the type of trust that is used. A trust is an estate planning tool used to hold assets for the benefit of a beneficiary. In creating a revocable living trust, you create an estate planning technique that holds title to your assets for your or someone else’s benefit. The revocable living trust offers ease of administration of your assets during your lifetime and after death, privacy, and potential probate avoidance benefits for property in and outside the state of Texas.
- Powers Of Attorney Statutory Durable Power of Attorney (Financial):
- If you are incapacitated and unable to make decisions for yourself, then a power of attorney grants permission to the person(s) of your choice or appoints another person. This power of attorney allows the chosen individual(s) to make financial, business, medical, and legal decisions on your behalf.
- Healthcare Directives Medical Power of Attorney & HIPPA Release:
- When you grant power of attorney to someone to appoint them as your agent under a medical power of attorney, they are empowered to make the decisions about your healthcare and treatments. This document can be tailored to part of your estate plan and can include healthcare directives that outline your preferences for medical treatments, interventions, and services.
- When you appoint someone as your agent under your HIPAA release, that agent is authorized to receive your protected health information.
- Tax Planning:
- Strategic services are available to minimize the tax burden on you and your loved ones. We can address a variety of issues, including federal estate taxes, federal gift taxes, generation-skipping taxes, alternative valuation elections, and trusts.
- Beneficiary Designations:
- You can choose beneficiaries for financial accounts, retirement accounts, (such as retirement and bank accounts), and your life insurance policies. Selecting beneficiaries for these accounts dictates who will receive the payouts after you pass. It is essential to coordinate these designations with your overall estate plan, especially when a minor or incapacitated beneficiary is the recipient.
Why you need an experienced
attorney for estate planning
When you have an estate plan properly drafted with the support of an experienced attorney, it helps your family avoid common issues that come up when online or do-it-yourself wills are used.
A properly drafted will in Texas will provide for unsupervised court administration to eliminate the requirement of your executor to obtain court approval for most steps during the administration of your estate.
An unsupervised court administration will save your loved family members time and money if a court-appointed guardian is assigned to manage your affairs. Using living trusts and an estate plan helps to reduce the risk of court intervention after you are gone.
If your powers of attorney are not properly drafted or in the absence of such estate planning techniques, a court-appointed guardian of your estate or person may be required to manage financial and personal affairs.
The goal of an estate plan is to make it as easy as possible to transfer your assets to your loved ones. At the same time, the right structure minimizes the tax burden and makes it as easy as possible to finalize everything for your family. By implementing an estate plan, you will ensure the smooth transfer of your assets to your loved ones after your passing. You will also have peace of mind knowing that the person you choose will be able to make your financial and medical decisions.
Estate planning services for a loved one’s estate
Have you been named the representative of a loved one’s estate? This time is challenging in many ways: not only are you grieving the loss, but it is also stressful to navigate the probate process and duties of Executor or Administrator. work with the many duties of probate required for the estate.
The best way to navigate this process with ease is by ensuring that you have an experienced probate and estate planning attorney to help every step of the way. Legal representation gives you a clear insight into the most effective strategies to finalize and administer the estate while protecting the assets for beneficiaries.
It’s important to have an attorney for assistance for both types of cases: testate (with a will) and intestate (without a will).
Hiring an attorney to assist with the probate process is the smartest decision because it takes the burden off you and your family. Additionally, this legal representation can minimize the risk of family disagreements and misunderstandings.
Hopefully, the estate details can be managed outside of court. If court proceedings are necessary due to a dispute from an heir, then our team at Monceaux Law Firm has the experience to handle the matter and protect your interests.
Estate planning help: Now and in the future
There’s no reason to wait for a conversation with an estate planning attorney. Our goal is to help you plan for the future, creating the ideal estate plan that protects your assets and reduces the stress on your family after you are gone.
Are you ready for the peace of mind of knowing that your assets and property are well cared for after you are gone? You deserve quality legal support, and we are just a phone call away.
At Monceaux Law Firm, our office is located in Dallas, TX, and we provide
support for families throughout the Dallas-Fort Worth area.
Ready for us to work for you?
When you are ready for more information about estate planning and probate, then reach out to us at your convenience. We will schedule a consultation so you can learn more about available services and find the ideal solutions to fit your unique needs.
