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Law Office Of Seth K. Bell.

Are You Thinking About Creating An Estate Plan? A San Antonio Estate Planning Lawyer Can Help You Avoid The Most Common Mistakes

  • By: Seth K. Bell, Esq.
Law Office of Seth K. Bell | Estate Planning Law Firm

Law Office of Seth K. Bell | Estate Planning Attorney with Experience in San Antonio, TX

Estate Planning is not at the top of most people’s to-do list. Maybe it’s because no one looks forward to contemplating their mortality. That’s probably why more than half of US adults have not considered planning for the inevitable.

At its core, however, estate planning has everything to do with protecting you and your family from eventualities that can’t be avoided. Creating a comprehensive estate plan isn’t just for people of a certain age or level of wealth. It’s about formalizing decisions about your future health, the disposition of your possessions and your family’s financial security.

Estate Planning Mistakes You Don’t Need To Make

There’s no better time than now to start planning for the future. If you see the wisdom of beginning to prepare for what lies ahead, you’ll need an experienced estate planning lawyer who can carefully assess your needs and intentions.

Seth Bell has over 25 years of experience helping clients in San Antonio, Texas and throughout Southern and Central Texas prepare the foundational paperwork that makes up their estate plan. Because estate planning considers and addresses many contingencies regarding your and your family’s future, DIY is not the way to go. A skilled estate planning lawyer can help you avoid the most common mistakes.

What Happens If I Die Without A Will?

Dying without a valid will in effect is referred to as dying “intestate.” If you die without a will in Texas, the state makes the most important decisions regarding your legacy, which has its laws about how your assets will be distributed.

When there is no will, the probate court appoints a personal representative to act as the executor of your estate. That person would distribute your assets according to Texas’s intestacy laws. Generally, the laws give priority to spouses and children to inherit.

However, what happens when you don’t have a spouse or child? What if you had other intentions about who should inherit that contradict the intestacy law? You don’t want to forfeit control over your legacy or create a context where family members are stressed or fighting because your intentions are unclear.

Can I Wait Until I’m Older To Make Provisions For Mental Or Physical Incapacity?

Not having a plan for potential incapacity in the future is not wise. Once you reach adulthood, you are responsible for decisions regarding your health and finances. Part of responsible estate planning is making health care and financial decisions today if you can’t make those decisions later.

It’s a common estate planning mistake not to make provisions for incapacity. Concerning potential mental or physical incapacity, we can’t know the future. Hopefully, we won’t find ourselves in a position where we cannot make profound life decisions, but there’s no way to be certain. In case of incapacity, you want there to be no doubt about your wishes and who is entrusted to execute them.

For these reasons, these legal documents should be part of your estate plan:

  • Durable Power Of Attorney – appoints a person to manage your financial affairs if you cannot due to injury or illness
  • Medical Power Of Attorney Or Medical Directive – identifies a person to make health care decisions on your behalf and specifies desired medical treatment when you are unable

Can I “DIY” My Own Will Or Estate Plan?

It’s tempting in this day and age to avoid expenses by “doing it yourself.” Are there websites, downloadable forms and YouTube tutorials on estate planning? Yes, there are. Is online estate planning a good idea for you? Probably not.

Estate planning law is complex – enough that you may create more confusion about your wishes than you intended. If not properly drafted and legally validated, your stab at writing a will or estate plan can create inadvertent ambiguities or mistakes about beneficiaries or the disposition of your assets. These oversights may even lead to protracted legal battles between your beneficiaries.

Other issues that argue against DIY estate planning include:

  • Unforeseen legal complexities of bequeathing community property (property acquired jointly with a spouse during the marriage)
  • Beneficiary designations in retirement accounts or life insurance policies that may supersede and contradict the intentions stated in your will
  • An inflexible or out-of-date estate plan that doesn’t account for life changes, including marriage, divorce, birth of children, changes in law, etc.
  • Lack of provision or sufficient provision for incapacity

Are You Ready To Plan A More Secure Future For You And Your Family?

Seth Bell has served clients’ estate planning needs for over 25 years in San Antonio including Southern and Central Texas. If you’re ready to create a comprehensive, affordable and flexible estate plan that meets your needs, he can help.

Call (210) 824-4001 to schedule a consultation or make an appointment on our contact page.

About the Author Seth K. Bell is an established legal practitioner with over twenty
years of experience representing clients throughout...Read More