Easy Questions  
Free Legal Documents

Overview of Estate Planning in Alba, TX

Overview of Estate Planning in Alba, TX


Death is not a tragedy to the one who dies; to have wasted the life before that death, that is the tragedy.
 
- Orson Scott Card


Do you think that estate planning is only for rich folk? Estate planning is the process of getting your affairs in order so that if you pass away unexpectedly, things will be much easier for your loved ones. It doesn't have to be hard or expensive or intimidating. Just a few simple steps: Catalog what you own, make a will and create a few legal documents (with the help of 1-2-Law.com) and review the beneficiaries on your retirement accounts. For most Americans, there's no need to worry about estate taxes or fancy trusts.

Do it for your family. You will feel so much better knowing that you've taken care of them.

• Write a will. State in this document the properties you want your beneficiaries to inherit. You can also indicate the guardian for your young children if something happens to you and your partner.

• Select a guardian for your children. Children who will inherit any money or property from you should be designated with an adult guardian to oversee their affairs.

• Update beneficiaries on retirement accounts. You can transfer to your beneficiaries your stocks, bonds and brokerage accounts if you were able to register them. If you have a bank account and retirement plans, naming a beneficiary to these documents can automatically make these accounts "payable on death". This can avoid the probate process.

• Sign up for life insurance. It would be a good investment to get a life insurance if you owe significant amount of estate tax or debts, have young children, and own a house.

• Determine of you will owe estate taxes. Estates taxes will be impose by the government upon your death if your taxable estate is more than the inclusive limits set by law.


• Determine if a living trust is right for you. Property placed in the living trust can be distributed to their designated beneficiaries without undergoing probate which can be expensive and time consuming.

• Define your health care directives . You also need to plan out for your medical care by doing a medical declaration or living will that can indicate the treatments you want or do not want and power of attorney for health care that can assign a trusted person who will make medical decisions for you if you are unable to make it yourself.

• Create a financial power of attorney . If you become incapacitated, handling your affairs can be a problem but not if you have a durable power of attorney for finances. A trusted person you have chosen yourself will be handling your finances and property if that time comes. This trusted person is called an agent or attorney-in-fact.


• Provide for funeral expenses. Payable-on-death bank account can be more reliable and easier to set-up as compared a funeral prepayment plan. This will cover your funeral and other related expenses.

• Make the final arrangements. This document will indicate your wishes for organ and body donations and also the disposition of your body through burial or cremation.

• Define the Succession Plan for your business. Make plans if you own a business by having a successor. If you have a partner in business, have a buyout agreement.

• File all estate planning documents. The person you choose in your will to administer your properties should be given access to your important documents like:

1. will

2. trusts

3. information on bank accounts, mutual funds, and safe deposit boxes

4. information on retirement plans, 401(k) accounts, or IRAs

5. insurance policies

6. real estate deeds

7. certificates for stocks, bonds, annuities

8. Information on debts: credit cards, mortgages and loans, utilities, and unpaid taxes

9. Information on funeral prepayment plans, and any final arrangements instructions you have made.

 
Personalize & Print a Free TX Last Will Download this Document
Page 1
Page 2
Page 3
Page 4
Page 5
Page 6
Page 7
Page 8
Page 9
Page 10
 
Personalize & Print a Free TX Living Trust Download this Document
Page 1
Page 2
Page 3
Page 4
Page 5
Page 6
Page 7
Page 8
Page 9
Page 10
Page 11
Page 12
Page 13
Page 14
Page 15
Page 16
Related Legal Services near Alba, TX
Attorney General
1400 Hillcrest Dr
Arlington, TX 76010
(817) 277-9805
Attorneys
Shivers Robert A
1146 S Alamo St
San Antonio, TX 78210
(210) 226-9725
Administrative & Governmental Law Attorneys, Immigration Law Attorneys, Attorneys
Martinez & Martinez
1105 Wooded Acres Dr #200
Waco, TX 76710
(254) 776-9700
Attorneys,  General Practice Attorneys,  Legal Service Plans,  Drug Charges Attorneys,  Child Custod
Cotner Robert
3501 W Waco Dr
Waco, TX 76710
(254) 752-9688
Attorneys
Zimmerman & Zimmerman & Cotner & Young A Professional Corporation
3501 W Waco Dr
Waco, TX 76710
(254) 752-9688
Accident & Property Damage Attorneys,  Attorneys,  Legal Service Plans,  Personal Injury Law Attorne
Zimmerman Law Firm
3501 W Waco Dr
Waco, TX 76710
(254) 752-9688
Accident & Property Damage Attorneys, Personal Injury Law Attorneys, Automobile Accident Attorneys
Morris, Michael P - Tekell Book Matthews & Limmer
1221 McKinney St # 4300
Houston, TX 77010
(713) 222-9542
Personal Injury Law Attorneys, Attorneys
Tekell Book LLP
1221 McKinney St Ste 4300
Houston, TX 77010
(713) 222-9542
Attorneys, Legal Service Plans
Book, William C - Tekell Book Matthews & Limmer
1221 McKinney St # 4300
Houston, TX 77010
(713) 222-9542
Insurance Attorneys, Personal Injury Law Attorneys, Attorneys
Clark Dick
3311 N Ridge Dr
Waco, TX 76710
(254) 772-9464
Attorneys
Muizers Martin I
2525 E Arkansas Ln
Arlington, TX 76010
(817) 548-9437
Attorneys Referral & Information Service, Attorneys, General Practice Attorneys
Central Texas Litigation
7215 Bosque Blvd
Waco, TX 76710
(254) 399-9400
Attorneys Referral & Information Service, Litigation Support Services
Kerrisa Chelkowski
1017 South Alamo Street
San Antonio, TX 78210
(210) 228-9393
Criminal Law Attorneys, DUI & DWI Attorneys
Abbott J Perry CPA
609 W Main St
Arlington, TX 76010
(817) 265-9306
Attorneys,  Estate Planning, Probate, & Living Trusts,  Wills, Trusts & Estate Planning Attorneys
Brenda Dushane
12404 Highway 6
Santa Fe, TX 77510
(409) 316-9254
General Practice Attorneys, Attorneys, Legal Service Plans
The Law Office of Wendy L. Hackler
1810 A 8th Ave.
Fort Worth, TX 76110
817-926-9890
Attorneys, Child Support Collections, General Practice Attorneys
Hasdorff & Convery P C
1007 S Alamo St
San Antonio, TX 78210
(210) 738-9060
Attorneys,  Criminal Law Attorneys,  Family Law Attorneys,  Divorce Attorneys,  Legal Service Plans
Green Neal Jr
110 W Collin St
Corsicana, TX 75110
(903) 874-9009
Divorce Assistance, Attorneys, Family Law Attorneys, Legal Service Plans
Hardin Rusty & Associates PC
1401 McKinney St Ste 2250
Houston, TX 77010
(713) 652-9000
Attorneys, Criminal Law Attorneys, Appellate Practice Attorneys, Litigation & Tort Attorneys, Legal
York Robert Atty
312 W 4th Ave
Corsicana, TX 75110
(903) 874-8890
Attorneys, Family Law Attorneys, Divorce Attorneys, Litigation & Tort Attorneys, Estate Planning Att
Scanes, Routh & James
7901 Fish Pond Rd
Waco, TX 76710
(254) 399-8788
Attorneys,  Accident & Property Damage Attorneys,  Civil Litigation & Trial Law Attorneys,  Real Est
Shields Joel
7901 Fish Pond Rd Ste 200
Waco, TX 76710
(254) 399-8788
Corporation & Partnership Law Attorneys, Attorneys, Labor & Employment Law Attorneys, Legal Service
Anita J Anderson
829 E Guenther St
San Antonio, TX 78210
(210) 533-8726
Attorneys Referral & Information Service, General Practice Attorneys, Attorneys
Aldous Law Firm
11959 fm 1764
Santa Fe, TX 77510
(281) 435-8648
Automobile Accident Attorneys,  Family Law Attorneys,  Litigation & Tort Attorneys,  Medical Malprac
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US