Estate Planning

Texas is known for its big skies, generous portion sizes, and straightforward probate process. Anyone who has ever played with a Rubik’s Cube knows that straightforward doesn’t mean simple, however. While the steps required of probating a will in Texas are easy to follow for those who are professionally trained they are not without pitfalls.

If you recently got married for the second time and do not have a will or estate plan, you risk the state deciding how to divide your assets on your passing. An estate planning attorney from Hailey-Petty Law Firm, PLLC can help prevent this and avoid other potential legal challenges.

Having a durable power of attorney in place can eliminate uncertainty in the event of medical emergencies or incapacitation. Contact our experienced estate planning attorneys at Hailey-Petty Law Firm, PLLC to learn more.

Being named executor of a loved one’s estate can be overwhelming. Inevitably, the responsibility arrives at a time already rife with stress and rarely is a person well-prepared for the job. If you are in this position, educating yourself about the scope of the executor’s role is an important first step.

A Designation of Guardianship serves two essential purposes. First, it allows you to designate a person to act as your guardian should you become incapacitated, and second, it allows you to designate a guardian to any minor children or children with special needs in case of your premature death. Each of these purposes presents a lot to think about and so it is worth looking at them separately.

In the after math of losing a loved one, nobody relishes the experience of navigating a complex, often trying legal process. This said, not all probate experiences are equal. Depending on the process required for your case, the experience can be relatively painless, especially if you entrust an experienced attorney to guide you through the many steps.

An effective business succession plan will give the business an opportunity to maximize its assets, minimize tax liability and always sustain a seamless running of the business.

This past year has taught all of us that tomorrow cannot be taken for granted, leading to an increasing number of people to plan and many more to recognize the need to speak to parents about doing the same. If you are an adult child trying to figure out how to talk to your aging mother or father about estate planning, let the following five tips serve as a guide.

Having both medical and financial powers of attorney in place has never been more important. The Covid-19 pandemic presents a threat to all of us, regardless of age or health. This is a tragic and frightening fact and while being prepared does not erase it, it at least eases some of the burden.