Houston, Texas Estate Planning Attorneys in Harris County

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Houston, Texas Estate Planning Attorneys in Harris County

Estate Planning Lawyers in Houston, Texas in Harris County, TX

Estate planning is not just for the wealthy or those nearing retirement—it’s for anyone in Houston, Texas seeking to protect their future, regardless of their financial status. It’s never too early to start planning. An estate plan can range from a simple will to a more complicated strategy, depending on your specific needs. An estate plan is a legal strategy that ensures your assets are managed according to your wishes in the event of your death or incapacity. For parents of minor children, it also ensures they are cared for by those you trust. To create an estate plan that meets your needs and is legally binding, it’s best to consult with a Texas estate planning attorney.

At Stange Law Firm, our Houston estate planning attorneys focus on helping you create a comprehensive estate plan that protects your family and assets. We understand that every family is unique, so we take the time to understand your specific situation and tailor a plan that best meets your needs.

Estate planning Services that We Offer in Houston, Texas include:

  • Wills: A will is a legal document that dictates how your assets will be distributed after death. Without one, Texas law decides how property and debts are divided, which may not reflect your wishes.
  • Trusts: A trust holds assets for someone else, helping avoid probate, minimize taxes, and protect against creditors.
  • Elder Law: Elder law planning protects seniors and their families through estate planning, asset protection, and long-term care strategies.
  • Special Needs Planning: Special needs planning ensures financial and emotional care for individuals with special needs, often through a special needs trust.
 

With many options to consider, estate planning can feel overwhelming. However, our estate planning attorneys are here to guide you through the process and help protect your assets.

What Are Common Assets to Include in an Estate Plan in Houston, Texas?

We are often asked what types of assets should be included in estate plans in Houston. Our answer typically depends on the specific goals of the individual. Common assets that people in Harris County, Texas, may choose to include in their estate plans are:

  • Real estate: Homes, land, rental properties, etc.
  • Bank accounts: Checking, savings, and certificates of deposit (CDs).
  • Retirement accounts: IRAs, 401(k)s, pension plans, etc.
  • Investments: Stocks, bonds, mutual funds, and other securities.
  • Personal property: Jewelry, art, collectibles, vehicles, and family heirlooms.
  • Life insurance policies: Beneficiaries designated to receive proceeds.
  • Business interests: Ownership or shares in family businesses.
  • Intellectual property: Patents, copyrights, trademarks, and royalties
 

While there is no universal example of what assets should be included in an estate plan, the above assets are some of the most commonly included ones.

What Obstacles Are There to Creating an Estate Plan in Houston, TX?

Creating an estate plan can present many obstacles, making the process seem challenging or even impossible. However, with the guidance of an estate planning attorney, you can navigate these challenges and develop a plan that reflects your family’s most important wishes.

Some common challenges include:

  1. Complexity: Diverse assets, special needs, or minor children can complicate planning.
  2. Unclear Wishes: Uncertainty about asset division or management roles can create difficulties, and changing preferences can add complexity.
  3. Lack of Knowledge: Without guidance, individuals may overlook essential elements like wills, trusts, or powers of attorney.
  4. Family Dynamics: Conflicts over guardianships, inheritance, or executors, especially in blended families, can complicate decisions.
  5. Failure to Update: Life changes such as marriage, divorce, or new assets require updates to the plan.
  6. Tax Implications: Overlooking estate, gift, or inheritance taxes can create unexpected challenges.
  7. Probate Costs: Without proper planning, probate can be lengthy and costly, delaying asset distribution.
  8. Health Decline: Mental or physical decline, such as dementia, can affect an individual’s ability to execute an estate plan.
 

Working with an experienced estate planning attorney can help mitigate these obstacles and ensure that the plan is tailored to meet your specific needs and circumstances.

Contact Stange Law Firm in Houston, Texas Today to Schedule an Initial Consultation in Harris County

Creating a comprehensive estate plan is an overlooked part of taking care of your family and protecting your assets. If you have questions about estate planning or need help drafting a plan in Houston, Texas, or anywhere nearby, contact Stange Law Firm today. We are ready to assist you.

Harris County (Houston), Texas Office (346-466-4901) | 12 Greenway Plaza, Suite 1147, Houston, Texas 77046

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Helpful Information Regarding High Net Worth Divorce From our Webpage

To learn more about our work in the area of high net worth divorce, please follow the links below:
Do You Need a Last Will and Testament or an Estate Plan?
Everybody should consider making a will. However, a will is about much more than the division of a sizable estate, and making a will is not something that those with substantial assets.
Multi-state Trust Attorneys in the in Missouri, Illinois, Kansas, Oklahoma and Nebraska
As Stange Law Firm, PC, we can determine the right type of trust for your needs and objectives and select the type of trust that best protects your interests.
Valuing professional practices and businesses
Valuing a professional practice can be extremely difficult because much of the value is in the individual's contribution, not in merchandise or interests that can be easily divided. If you have questions, we have answers.
Pensions, IRAs and 401(k)s
Missouri law significantly affects the division of retirement savings accounts. If many of your assets are in IRAs or 401(k)s, we can talk with you about your options.
Qualified Domestic Relations Orders
QDROs create or recognize the existence of an alternate payee's right to receive all or a portion of the benefits payable under a retirement plan. We can explain what this means for you.
Divorce Tax Issues
For some, they can have significant questions and concerns about how getting divorced might effect them from a tax perspective. We can help ensure that clients can get the tax advice they need from tax professionals.
Maintaining Lifestyle
Many individuals have spent their entire life working hard in order to maintain a lifestyle that they have sought out. We can help individuals going through divorce ensure that they are put in the best financial position possible after a divorce.
Business Owners
Many individuals have spent their whole life trying to create a successful business or they have assisted their spouse build up this interest. It can be stressful when that business interest becomes part of a divorce proceeding. However, we an help ensure that a business interests are fairly evaluated.
Prenuptial & Postnuptial Agreements
Prior to entering into a marriage, or after the wedding date, many individuals are interested in putting together a prenuptial or postnuptial agreement to ensure that there are not lengthy and contentious divorce proceedings later if the marriage ends in divorce In these instances, we can help.
Farm Divorce
In certain cases, parties going through a divorce may own a family farm. This can result in the farm itself, equipment, livestock and other valuable assets being put in play in a divorce. We can help you if this is the case.
Stocks and Bonds
Many married couples also have significant sums in stocks and bonds. It's vital to work with an attorney to have an accounting of what is out there and to ensure it is properly addressed in family court.
Vocational Examination
The income producing potential of a husband and wife can be an important issue in a spousal support or child support case. A vocational examination can be useful in many of these cases where the current income of a party does not appropriately reflect what they could make.
Real Estate Portfolios
Real estate can be an important issue in divorce cases where the parties own rental property and other valuable real estate. We can work with parties in these types of cases to make sure these assets are property valuated and apportioned.
Delayed Compensation
In some situations, a party may be compensated through delayed compensation. This is an important area that should not be over-looked in a divorce.
Overseas Assets
Overseas assets can be significant issue in certain cases. It is vital that you have an attorney who understands how to address this issue
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From our webpage, you can also read articles about family law, view informational videos, seminar videos, listen to our podcast, download our mobile application or view support calculators for MissouriIllinois and Kansas.

If you are looking to find and hire a child custody lawyer, contact us online or by phone to schedule a consultation at any of our convenient locations.

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