A Will is a critical component of every estate plan. Our Wichita Falls Estate Planning Attorney will create a Will based estate plan that protects your future.
Will-Based Estate Planning in Wichita Falls
Will-based estate planning at Steven Booker Law is our basic option. For most young families and individuals, the Will-based estate planning package provides the security and peace of mind they need as it ensures a Will, guardianship for minor children, power of attorney, and advance healthcare directive is in place. This package provides the foundation for a good estate plan and establishes a rulebook for the care and management of your finances and family.
If you do not have this basic estate plan in place, your family could be up against a demanding process, including a multitude of court proceeding and other legal procedures, extra costs, and delays associated with the settling of your estate, guardianship proceedings, and conservatorship proceedings. On top of that, this basic plan is not nearly as good as a customized plan tailored to specifically fit yours and your family's needs. Basically, without a plan in place, the court appoints agents who have all the power over your estate without any instructions from you. Often, this leads to strains within the family because on top of their grieving, they have to debate and decide how to handle everything you left behind, leading to unnecessary stress, conflicts and problems for the entire family. Sometimes, these situations where there was no planning involved leads to fiduciary litigation over disagreement and mismanagement.
What a Will Can Do for You
A Will does a number of things that are essential to an estate plan, including:
- Establishing your desires for the distribution of your assets
- Establishing your desires for your funeral arrangements
- Establishing your desires to give anatomical gifts
- Appointing a person to ensure your wishes are carried out
- Appointing a person (guardian) to care for your minor children
What About Probate?
Did you know a Will-based estate plan still means your family must go through probate? Probate is the legal proceedings your estate (everything you own) must go through once you pass away and it often has fees ranging from $2,500 to $5,000.
With a Trust-based estate plan, probate is avoided, thereby, saving thousands of dollars in fees. For couples who have a Trust, that means saving thousands of dollars in probate fees for the death of each spouse. The right estate plan is cheaper in the long run than not having a plan at all, and we can show you how. We love being a part of a family that has made the commitment to ensuring a legacy of prosperity and security is established for their family for generations to come.
Estate Planning Overview
At Steven Booker Law, we believe in proper and comprehensive estate planning tailored specifically to meet your and your family’s needs. Of course, we offer individual documents, but we advocate for complete planning through one of our package deals.
Will-Based Estate Planning Package
- Last Will and Testament: This document establishes your desires for the distribution of your assets and the care of any minor children upon your death. If you pass away without a Will in place, there’s no guarantee that your wishes will be carried out and it could leave decisions about how to handle your estate in the hands of the courts and the state. Additionally, if you don’t have clear directions about what you wish to happen once you pass, it could also cause family turmoil.
- Durable Power of Attorney: This document authorizes an appointed individual, your agent, to manage any property and finances outside of a Trust if you become incapacitated and are unable to do so.
- Medical Power of Attorney: This document authorizes an appointed individual, your agent, to make health care decisions for you if you become incapacitated.
- Directive to Physicians (Healthcare Directive): This document, also known as a Living Will, makes your wishes known as to whether or not you want to withdraw life support given you are in a vegetative state without any hope of recovery.
- HIPAA Authorization: This document permits access to your health information when/if the need arises without having to go through a court. This document is particularly helpful for your medical agent.
- Emergency Info & Medical Directives Wallet Card: Now that you have a plan in place, it is important to be able to access that plan when it is needed. We recognize that you will not carry your estate planning portfolio binder around with you, so we have provided you with an “Emergency Information & Medical Directives” card that you can fill out and carry with you in your wallet, so you always have it in case tragedy strikes. The aim of this card is to let people know who to contact in case of an emergency, and to ensure that it is known that you have an estate plan in place.
- Emergency Access: We maintain digital records of all of our estate planning clients, so we can ensure your family has access no matter where you are.
The Steven Booker Law Estate Planning Portfolio Binder
All our package deals come with an “Estate Planning Portfolio”. In this portfolio, you will have your estate plan neatly tabbed and organized along with the additional helpful sections provided for you to fill out and maintain organization of your estate for the convenience of your family.
In addition to having all your estate planning documents neatly organized and together, you will be provided with the following:
- Essential Documents: This section allows you to keep track of personal information, contact information for family members and for any other important persons or agencies as well as where all your important documents are.
- Assets: This section allows you to keep track of all your assets for the ease and convenience of your family. Much of the burden in estate administration comes from tracking down and locating all assets. By maintaining a list of your assets within your estate planning portfolio binder you are making life much easier for your loved ones.
- End-of-Life Instructions: This section provides a checklist of things to do upon your passing and it provides a basic template of things to do and letters to send to notify certain agencies of your passing.
- Q&A and Glossary: This section provides answers to the most frequently asked questions about estate planning, and it defines some common estate planning terms.
- Blank Sections: We provide blank sections for you to fill in as you see fit. If there are any type of instructions or information we have not accounted for in the above sections, this is where you would add those in.
Steven Booker Law’s Estate Planning System:
- Estate Planning Questionnaire: Quick and easy way for us to get a good understanding of your unique situation.
- Discovery Meeting: Understand your option and select the estate planning solution that is right for you.
- Signing Meeting: Review and sign your estate plan.
- Estate Plan Maintenance and Client Care: Enjoy calls, emails, and review meetings with our firm to make sure your plan remains up to date and accurately reflects your current circumstances.
We will be here for you as a trusted family attorney and counselor.
Estate Plan Maintenance and Client Care
As a client of ours, we encourage you to take advantage of the services we offer in support of estate plan maintenance and client care.
Our services go far beyond simply setting up a Will or Living Trust. Our team and our resources are also available through:
- Free phone calls.
- Helpful videos
- Informative articles
The Cost of a Customized Estate Plan is Invaluable
All our estate plans are prepared for a fixed price quoted in advance at the discovery meeting and agreed to by you in writing before we finalize your plan. There will not be any surprise changes or fees ever. Additionally, payment plans are available if needed. We welcome the opportunity to serve those vital to our communities, including teachers, military service members, and first responders.
In the end, you will walk away with a comprehensive, customized estate plan tailored specifically to meet yours and your family’s needs. But more importantly, you walk away with the peace of mind knowing your affairs are in order and your family is provided for.
Contact a Wichita Falls Estate Planning Attorney
At Steven Booker Law, our desire is for our clients to understand all their options and make an educated decision.
You need to protect your loved ones from these outcomes by having a Will-based estate plan in place.
Do not delay. Plan for the inevitable and secure your family's future. Call us at 940-569-4000 or fill out our contact form to schedule a free, confidenital, no-obligation consultation.