The estate plan that met your needs in your 30s may not meet your needs today. As you get older, it becomes more urgent to plan for issues such as incapacity or the incapacity of a spouse. It also becomes more important to protect your assets.
At Kennedy & Jackson, located in Houston, we understand the estate planning issues that affect older Americans, an area sometimes called elder law. Our attorneys are board-certified in estate planning and probate law by the Texas Board of Legal Specialization.
WILLS AND TRUSTS
If you and your spouse have a will naming each other as your beneficiary, now may be the time to consider a living trust. A living trust can provide better management of your assets if you or your spouse becomes incapacitated.
As you and your spouse get older, one or both of you may develop health issues. If you leave all of your assets to your spouse through a will, it is possible that your spouse will receive those assets at a time when he or she is unable to manage them. The result could be the loss of assets you built up over a lifetime.
A living trust allows you to name a secondary trustee to manage your assets if you and your spouse are not able to. It also allows your family to avoid a costly and complex probate proceeding.
In addition to living trusts, our lawyers also draft trusts to meet special objectives such as asset protection and minimization of estate taxes.
PLANNING FOR INCAPACITY
Seven out of eight people will go through a period of incapacity before they die. We provide clear advice and comprehensive representation regarding powers of attorney, health care directives and other estate planning documents that can help your family avoid a costly and humiliating guardianship proceeding if you or your spouse becomes incapacitated. To be effective, these documents must be drafted before they are needed. Once you become incapacitated, you will not have the legal capacity to name someone to act for you.
FOR MORE INFORMATION ABOUT ELDER LAW
Our law office is located in the Galleria area of Houston, with free on-site parking available next to our office building. We provide a free — and confidential — initial consultation to all new potential clients to discuss elder law.
To schedule an appointment with one of our lawyers, call 713-783-7444 or send us an email.