San Antonio Estate Planning Lawyer

Estate Planning Attorney in San Antonio, TX

Your estate plan enables you to outline your wishes on important issues, like the care of your children, the protection of your home and assets, and the well-being of your loved ones. A well-crafted estate plan can have benefits during your lifetime, and it can ensure the smooth transfer of your estate after your death. It’s crucial that you work with a San Antonio estate planning lawyer to create an estate plan tailored to your needs.

Ramsey Law, PLLC: Safeguarding Your Family’s Future

At Ramsey Law, PLLC, the team can help you create an estate plan that adheres to your goals and considers the specific needs of your loved ones. Amber Ramsey has more than 15 years of experience, primarily in estate planning and probate law. This experience allows her to help you draft the ideal estate plan and address risks more effectively. When you need a dedicated estate planning team, the firm can use the San Antonio estate planning laws to safeguard your estate and interests.

Important Considerations in an Estate Plan

While estate planning is crucial to planning for your future and that of your family, 54% of Americans do not even have a will, according to one survey. There are many reasons for this, including the difficulty of discussing your own death. However, it’s important to understand the numerous benefits of estate planning.

Some common considerations in estate planning cases include:

Wills

Your last will and testament is a fundamental document in estate planning. It lets you list the distribution of your assets, along with naming:

• The individuals or entities you wish to receive your property
• The person you want to serve as the guardian for your children
• The individual you want to act as the executor of your will

If you die without a will, your assets will still be distributed, but you do not have a say in how it is done. Instead, your property will be addressed by the state’s intestate laws.

These laws divide portions of your estate between your surviving close family members, and it may not be how you want your estate split. An intestate probate is especially difficult for blended families and family members who are disabled. A will can limit this stress and uncertainty.

Trusts

The assets you name and distribute in a will must still go through probate court and the probate process, and the will must be validated in probate court. This entire process can be lengthy, so many people use trusts to limit the time their family must spend in probate court.

Trusts are incredibly beneficial for many reasons. Because a trust is a legal entity, the assets in the trust do not enter probate court after your death. The ownership of the trust instead passes to the trustee. Probate can be a long process that cuts into the benefits you want your loved ones to receive. A trust keeps most of the process out of court, so it remains private.

By using a trust, you can determine when and how assets are used by a beneficiary. This is especially useful if you have minor children, as it protects their inheritance more securely.

Trusts are either revocable or irrevocable, and they have many uses. Some types include:

• • Special needs trusts. A special needs trust, or supplemental needs trust, is used to protect the inheritance for a disabled heir. Without this option, a disabled individual will receive an inheritance that will likely disqualify them from the governmental benefits they rely on for their day-to-day needs. It can impact their Medicaid eligibility, housing, supplemental security income, and more.

By creating a trust managed by a trustee, a disabled beneficiary does not own those assets, meaning they can receive an inheritance without substantial consequences.

• • Pet trusts. Creating a pet trust helps you provide for your pet’s care, establish a caretaker for them, and create a legal obligation for their care. The trust’s terms can outline what the funds in the trust are to be used for, including food, medical bills, grooming, and other continual care needs. You can also make sure specific assets pass to the caretaker, such as the pet’s bedding, toys, and food.

Trusts are more complex and costly to set up than a will, but they can provide significant benefits and reassurance for those looking to protect their loved ones and estate.

Powers of Attorney

A power of attorney designation puts a trusted individual in charge of important legal, financial, and/or medical decisions. Through this document, you give them the authority to act on your behalf. In an estate plan, the most common use is a durable power of attorney, which means the person’s legal authority comes into effect if you are incapacitated or otherwise unable to make crucial legal, financial, or medical decisions.

Estate Planning for Young Families

Young families have unique considerations in estate planning. 23% of San Antonio’s population is under the age of 18. In this city, married-couple families had an average income of $97,278 a year. It’s important that young families safeguard this wealth for their future and young children. A will allows you to name a guardian, and a trust makes sure your children’s wealth is sheltered and controlled for their education, care, medical needs, and other important needs.

Without an estate plan, minor children can be left without a clear guardian and fully secured assets. Decisions for children are left up to the court, which can create disputes in your family and make things more confusing for young children. After the significant loss of a parent, this can be additionally destabilizing. An estate planning attorney can help you protect your children in case something happens to you.

Guardianships

Guardianships are tools used when an incapacitated adult cannot provide for their own health or manage their financial affairs without support. A guardian is appointed to have either guardianship of the person, guardianship of the estate, or both. If someone you love is in need of a guardianship, it is important to work with an attorney who understands these delicate cases.

Probate

Probate is how the state lists, evaluates, and distributes your assets, officially passing them to your heirs or beneficiaries after you die. It also validates any estate planning documents and follows the wishes in those documents if they are valid. Navigating probate, either as an executor or heir, is much easier when you work with an attorney who understands this complex legal process. There are three probate courts in San Antonio, located at 100 Dolorosa Street.

Hire an Estate Planning Lawyer in San Antonio, TX

When you need compassionate and comprehensive legal support to draft your estate plan, contact Ramsey Law, PLLC, today.