Give the Gift of an Estate Plan this Holiday
you given any thought to the end of your life and how it might impact your
loved ones? The holiday season may not seem like a typical time to think
through decisions about what will happen to you, your children and your
property should you die or become incapacitated, but there may be no better
gift you can give your family than the peace of mind of knowing your wishes and
desires for the end of your life.
Chad West Law, PLCC offers a variety of estate planning services for our clients in the Dallas Fort Worth area including medical power of attorney or living will, durable power of attorney, guardianship declarations for property and minor children, mental health treatment declarations, HIPAA releases and appointment of an agent to control disposition of remains.
Creating an estate plan is a small investment of time and money for the long-term peace of mind of knowing you have made your wishes known to your loved ones, especially if you have young children.
What happens if I die without a will?
If you do not have a will when you pass away, then you are said to be “intestate.” The county will get involved, and a judge will have to determine what assets, if any, exist and then determine the appropriate way under Texas law to distribute the assets. This can be a drain on the value of the estate if there ARE assets that need to be distributed, especially if family members of the deceased do not agree on the distribution plan. With a will, you can ensure that your wishes are followed after your death. You can also use a will to plan your estate effectively in order to minimize taxes.
A recent client shared their experience in hopes of encouraging others to consider creating an estate plan as a gift to their family.
Why did you engage the team at Chad West Law to help you with an estate plan?
We started as my father began to fall ill, and I could not be a full time caregiver. Chad and his team help us build and create our family estate plan, living will and medical and durable power of attorney. All planning was completed in less than a week. This greatly simplified our time focusing on my father’s estate and planning. My father is now doing very well and getting to enjoy retirement as he should in an assisted living facility in town, and I can continue focusing on my current business and expanding.
What advice would you offer to people who haven’t given much thought to end of life decisions?
The questions and discussions had during estate planning can be heavy and hard to approach. Chad and his team were very clear with each question and used good conversation starters to help get us through the tough questions. Once the process started, it became easier, and we were able to all get on the same page and know that the most difficult tasks are completed. When the time comes that we need it, the paperwork is there.
How did Chad West, PLLC help your family with this difficult process?
It came time for me to take over all family responsibilities from my father who was not doing well at all. We began the process of Estate Planning for his betterment as well as for our own as his three children and his current granddaughter and any future descendants. Chad and his team had all the paper work in hand and ready. When we began the process, Chad made arrangements to meet with us at home since my father was unable to travel. The planning was completed quickly, and I can now begin processing other family affairs that need similar attention. Chad and his team are on point, prepared and knowledgeable of the subject matter and highly efficient.