Houston estate planning lawyer Whitney L. Thompson (https://www.wthompsonlaw.com/an-estate-plan-is-the-gift-of-peace-of-mind/) releases a new article explaining why an estate plan can be a gift that brings peace of mind to a person. The lawyer mentions that the last thing a person would want to worry about is what might happen to their family and estate when they pass. An estate plan can be a great tool to give a person peace of mind when going into the future.
“The most significant gift an estate plan can give you and your family is peace. After you pass, there will be no confusion about who receives your assets or what your final wishes are. Your loved ones will stay out of financial distress since you planned out inheritances or designated trusts. If you keep your estate plan updated regularly, your assets will not go to those who you do not want to receive them,” the Houston estate planning lawyer says.
The lawyer adds that without an estate plan, a person’s assets will be subject to pass according to the laws of intestacy. Litigation and discord are quite common when families are discussing an estate that doesn’t have any comprehensive plan for distribution. These situations can be detrimental to the family’s welfare. This is why it is important to plan in advance.
With an estate plan, a person will have a formal will. A formal will can help in ensuring that a person’s wishes on how to distribute the estate will be honored. The estate owner can name who will receive the assets and how much each person will get. They may also be able to name an executor who will distribute the assets according to how the grantor wants.
In the article, attorney Thompson adds, “Designating someone as your power of attorney means they can make decisions for you if you are incapacitated. Financial and healthcare powers of attorney will make all choices for you concerning finances or medical decisions. We help you ensure that you appoint trusted individuals who know precisely what your wishes are.”
Furthermore, there may come a time when you need additional care after an accident or illness. Your condition may require you to live out the rest of your life in an assisted living facility, nursing home, or hospice care. Your estate plan is where you lay out those end-of-life wishes and the funds to pay for any facilities you choose to go to.
Lastly, the lawyer emphasizes the importance of having a skilled estate planning attorney when dealing with matters involving estate planning. Having an experienced estate attorney may be able to help an individual understand their rights and help them prepare for the future of their loved ones.
About The Law Office of Whitney Thompson, PLLC
Attorney Whitney Thompson is an experienced family law attorney who helps clients deal with family law matters such as divorce or legal separation. Attorney Thompson also deals with guardianship, probate, and estate planning matters. As an experienced divorce lawyer, attorney Thompson and her legal team have helped families have a smoother divorce process and plan for their future more thoroughly. To schedule a consultation, call (281) 214-0173.
As a Licensed Attorney, I have spent most of my career helping and representing individuals with Child Support, Divorce, Guardianship, Probate, and Estate Planning challenges. I began this work early on as a law student at Thurgood Marshall School of…