Expert Estate Planning Services in DeSoto, TX

For residents of DeSoto, an estate plan may include any of the following elements:

Last Will and Testament
A will is one of the most recognized components of estate planning. It specifies how your property and assets should be distributed after your death. Without a will, the state could distribute your assets based on Texas inheritance laws, which may not align with your wishes.

Trusts
Trusts are legal arrangements that hold and manage your assets. They can be set up to distribute assets during your lifetime, upon your death, or over a certain period. Trusts offer flexibility and may protect beneficiaries from certain taxes or creditors, and they can help avoid probate—a lengthy and sometimes costly legal process.
Durable Power of Attorney
A power of attorney designates someone to handle your financial and legal matters if you become incapacitated. This ensures that your finances, property, and other responsibilities continue to be managed according to your wishes even if you’re unable to do so yourself.

Healthcare Directives and Living Wills
A healthcare directive or living will is a document that provides instructions on your medical care preferences if you’re unable to communicate them yourself. It also often designates a healthcare proxy to make decisions on your behalf, which can alleviate stress for family members during difficult times.

Beneficiary Designations
Not all assets require a will to be distributed. Retirement accounts, insurance policies, and other financial accounts often have beneficiary designations that will ensure the assets are transferred directly to your chosen recipient. Keeping these designations updated is crucial to ensuring they reflect your current wishes.