An estate plan can help you leave a legacy. With proper planning now, you can ensure that your assets, including your business, are passed according to your wishes and that your family is protected. An Alamo Heights estate planning attorney could help you draft an estate plan that protects not only your family but also your business.
Our seasoned team at Begum Peláez-Prada PLLC could help you create a comprehensive estate plan with personalized solutions to protect your family and assets.
Creating a comprehensive estate plan will allow your assets, including your business, to pass how you wish. A well-thought-out estate plan encompasses medical, financial, and asset planning in the event that you are unable to make your own decisions.
A knowledgeable Alamo Heights estate planning attorney could help you identify any potential issues and create the necessary structure and documents to achieve an exceptional financial plan and meet your succession goals.
Your estate plan can include a will, trust, medical power of attorney, financial power of attorney, and living will.
In a will, you specifically name beneficiaries who you want to receive your assets after you pass away. Beneficiaries can include family, friends, or charities. If you own a business, you can transfer it through your will. Including language regarding your business interests will help to ensure that your company passes on how you intend, as well as your other personal assets.
A trust is an estate planning tool that allows a third party (trustee) to hold assets on behalf of a beneficiary. A trust can hold assets and provide details to beneficiaries about when assets can be passed.
Trusts are either revocable trust or irrevocable trust. A revocable trust allows assets to be moved and beneficiaries to be changed up until death. An irrevocable trust owns the assets that are put into the trust. Assets cannot be moved or changed once they are put into an irrevocable trust.
A medical power of attorney allows you to appoint who will be in charge of making medical decisions on your behalf if you become unable to do so.
A financial power of attorney is a document in which you appoint an agent who will make financial decisions on your behalf in the event that you cannot.
A living will is a document that makes your medical wishes known even if you are not able to express them verbally. It outlines how you want your medical team to address feeding tubes, ventilators, and other measures.
Creating a comprehensive estate plan that accounts for any potential issues can be overwhelming. A dedicated Alamo Heights estate planning attorney could answer your questions and help you create a plan that protects your assets and your family.
An Alamo Heights estate planning lawyer can help bring your ideas to reality with proper estate planning. Begum Peláez-Prada PLLC is devoted to helping you create an estate plan that meets your goals. Our founder, Sasha Begum, has over 20 years of experience helping people just like you. Let us help you create an estate plan that ensures your business interests and other assets are accounted for.
