Prosper Estate Planning FAQs

What Should Be Included in My Estate Plan?

Estate planning is the process of organizing your assets and your personal affairs so that you and your family are properly protected. An estate plan should be comprehensive. Among other things, an estate plan may include:

• A will
• Trusts
• Powers of attorney
• Advance health care directives.

A proper estate plan should be customized. What is included in your estate plan will depend on your financial situation, your family situation, and your objectives.

Who Should I Appoint as My Executor?

In drafting a will, you should name an executor for your estate. An executor is the person entrusted to carry out your final wishes in accordance with the instructions in your will. In choosing an executor, you need to find someone who is trustworthy, willing, and capable of doing the job.

What is Probate?

In Texas, probate is the process through which a will is accepted as valid and carried out. Probate can sometimes be a slow and frustrating process. For some estates, trusts are an effective tool to keep many of your assets out of the probate process. If you have any specific questions about probate in Collin County, contact our estate planning attorney for help.

What Happens If I Need to Change My Estate Plan?

That is not a problem at all. Your estate plan can (and should) be revised on a regular basis. In this way, estate planning is much like retirement planning. It is important to put the right structure in place while you are young. As life changes, your plan—whether it is a financial plan or an estate plan—can be adjusted to meet your needs. Indeed, it is recommended that you review and update your estate planning after major life events, such as a marriage, divorce, or the birth of a child.

Is Estate Planning Expensive?

No. There are affordable estate planning services available for individuals and married couples. Taking the time to put together a plan now can save you and your family a significant amount in the long run. At The Cawlfield Law Firm, PLLC, our law firm is transparent in our fees so that clients know exactly what they are getting. We provide flat-fee estate planning services in McKinney and throughout the surrounding communities in Collin County, Texas.

What Should I Look for in an Estate Planning Lawyer?

Estate planning can be complicated. You should look for a Texas estate planning attorney who has the skills and experience to help you effectively navigate the process. A great estate planning lawyer is one who will put in the time and attention needed to understand your circumstances and help you craft the best possible plan to achieve your goals. You also should look for an estate planning attorney who you are comfortable working with. It is a good idea to set up an initial consultation with an estate planning lawyer where you can ask questions and find out more information.

How Can Our Estate Planning Attorneys Help You?

Our attorneys are experienced in a wide range of estate planning areas. We study our clients’ individual situations and tailor our services to meet their needs. In the event of the death of a loved one, we will help you:

1. Have an executor appointed or get appointed yourself
2. Create an asset and obligation inventory for the estate
3. Obtain property valuations, if necessary
4. Inform all necessary parties of the probate proceedings
5. Ensure the estate assets are divided per the will