Estate planning involves creating legal documents that provide instructions for your loved ones. Those documents become active after you die or if you cannot communicate your wishes. This article explores the estate planning services to expect when you work with an estate planning attorney, from creating a will to using trusts and similar assets and preparing for later life.
At Robbins Estate Law, we provide estate planning services for individuals and families across Texas. Led by experienced attorney Kyle Robbins, our firm focuses on clear communication and nuanced legal strategies. With predictable flat fees and a clear, upfront payment schedule, we aim to simplify the estate planning process.
Key Takeaways
- A will triggers probate; trusts bypass it — Assets transferred through a Texas will must go through the probate court process, while assets held in a trust pass directly to beneficiaries outside of probate, often saving time and money.
- Texas intestacy laws control estates without a valid will — If you die without a will in Texas, the state's intestacy statutes determine who inherits your property, starting with your spouse and children — which may not reflect your actual wishes.
- Ladybird deeds let you keep control of property until death — A Ladybird deed allows Texas homeowners to retain full rights to sell or mortgage their property during their lifetime while automatically transferring it to named beneficiaries upon death, avoiding probate.
- Powers of attorney protect you while you are still alive — A durable power of attorney and a medical power of attorney designate trusted individuals to manage your finances and healthcare decisions if you become incapacitated — a gap a will alone cannot fill.
- Medicaid planning requires careful asset structuring in Texas — Certain trust arrangements can help Texans protect assets while still qualifying for Medicaid long-term care coverage — a strategy Robbins Estate Law regularly helps clients navigate.
About the Author
Kyle Robbins, Esq.
Kyle Robbins is a renowned Texas Estate Planning attorney who has helped thousands of families secure their legacies. He specializes in simplifying complex tax and asset protection strategies into transparent, flat-fee plans with lifetime support.
What Is Estate Planning?
Estate planning involves creating documents that establish how to manage, distribute, and use your assets after you die. These documents include wills to transfer assets through the probate process and trusts that provide for your loved ones and protect your assets outside of probate. It also involves creating documents with instructions for what to do if you become medically incapacitated and unable to communicate your wishes while still alive.
Estate Planning Services
Each individual’s and family’s estate plan is different. Qualified estate planning attorneys offer several services to meet the unique needs of their clients. Some of these estate planning services include:
- Drafting legal documents,
- Providing advice about how to minimize costs and maximize benefits,
- Coordinating each part of your estate plan,
- Reviewing existing documents, and
- Updating plans when your life changes.
Your estate planning attorney helps you decide which tools to use, creates legally sound documents that clearly explain what you want to happen, and provides advice to ensure your loved ones effectively carry out your instructions.
If you are looking for estate planning services but are unsure what type you would need, fill out our short estate planning questionnaire. Our tool is designed to give you an answer in minutes regarding what estate planning service would be best for you.
Probate vs. Non-Probate Assets
In estate planning, assets may be “probate” or “non-probate.” Probate is the court process where a deceased person’s loved ones settle their debts and distribute their assets.
Whether an asset is probate or non-probate primarily depends on whether it has to go through probate to transfer ownership. Probate assets are those you transfer using your will and those that pass under state law if you leave no will. Non-probate assets transfer ownership without probate court involvement.
Risks of Do-It-Yourself Estate Planning
Creating your estate plan may seem cost-effective, but not consulting a professional carries significant risks. Common issues associated with DIY estate plans include:
- Creating documents that do not comply with the law, usually making them ineffective;
- Missing tools and opportunities to provide for your loved ones, save on taxes, and protect your property
- Failing to update documents as your life changes.
Working with an estate planning attorney instead gives you peace of mind that you will avoid these problems.
Planning for Probate: Creating a Will
A will specifies how your loved ones should distribute your assets after you die. In your will, you usually select an executor and can designate guardians for minor children. Your executor will manage your estate, pay debts, and distribute your assets. It is essential to choose carefully. The executor role involves a significant amount of responsibility.
Without a valid will, Texas intestacy laws determine what happens to your property. Under those laws, your probate estate passes to your surviving relatives, beginning with your spouse and children and moving outward along your family tree. If you have no surviving relatives as far out as your grandparents’ descendants, your property goes to the state.
Planning Around Probate: Trusts, Insurance, and Other Non-Probate Assets
Non-probate assets pass directly to designated beneficiaries, bypassing the sometimes lengthy probate process and saving time and money.
Trusts
A trust is a legal arrangement where a person or institution (the “trustee”) manages assets on behalf of someone else (the “beneficiary”). Trusts come in a limited number of forms, including:
- Revocable—can be changed or canceled;
- Irrevocable—cannot be changed or canceled once established;
- Living—created during your lifetime; and
- Testamentary—created after your death.
Although basic trust forms are limited, trusts can have an almost unlimited number of purposes, and you can place nearly any type of property into a trust. For example, you can create trusts to:
- Protect your assets but still qualify for Medicaid long-term care coverage;
- Provide for minors, individuals who make unwise financial decisions, disabled loved ones—without jeopardizing their benefits—or others;
- Give to your favorite charity; or
- Care for your beloved pets.
A crucial part of estate planning services includes exploring what types of trusts may benefit your estate plan.
Beneficiary Designations
Common assets where you may designate beneficiaries include:
- Life insurance policies,
- Retirement funds, and
- Certain bank accounts.
Your estate planning attorney can help you effectively designate beneficiaries and regularly update your designations.
Joint Ownership, Payable on Death (POD), and Transfer on Death (TOD) Accounts
Ownership with the right of “survivorship” allows you and another person to jointly own an asset, such as a home or bank account. When an owner dies, the property transfers to the other. Similarly, transfer on death (TOD) and payable on death (POD) designations allow you to name a beneficiary who will receive assets—such as bank accounts, securities, or real estate—upon your death.
Ladybird Deeds
Ladybird deeds allow you to transfer real estate to beneficiaries while retaining control of the property during your lifetime. You can still sell, mortgage, or alter the property how you want. Upon your death, the property passes directly to the beneficiaries, avoiding probate.
Preparing for Later Life
Later life planning focuses on decisions that may arise as you age or face health challenges. This part of estate planning services usually involves:
- One or more powers of attorney—a legal document choosing someone you trust to manage your finances or make healthcare decisions on your behalf;
- Advance directives and living wills—documents specifying your healthcare preferences, such as the type of medical care you want in the event of a serious illness or injury; and
- Medicaid planning—organizing assets to help you qualify for Medicaid long-term care coverage.
Working with an estate planning attorney can help you understand which tools work best for your situation.
Begin Your Estate Planning Journey Today
Robbins Estate Law is dedicated to helping Texans secure their futures. Founded by Kyle Robbins in 2017, our firm has grown to include a team of five attorneys and 15 staff members. Focusing on compassionate guidance and tailored solutions, we assist clients with everything from trust and will reviews to Medicaid planning. Take the first step toward peace of mind and contact Robbins Estate Law today to schedule a consultation.
Know what estate planning is but unsure what services it entails. From trusts to beneficiary designations, we break it down for you in our estate planning blog!