The Cawlfield Law Firm, PLLC is a real estate lawyer serving the Frisco, TX area. Click here to learn more about why you need a real estate attorney when buying a home!

Are you in the process of forming a new business in North Texas? If so, it is essential that you and your partners put the proper legal structure in place. A limited liability company or LLC is a great option for many business people and entrepreneurs. In this article, our Celina corporate and business law attorneys provide an overview of limited liability companies (LLCs) and explain why you might need one in Texas.

Finding out you or a loved one has been diagnosed with Alzheimer’s or dementia is overwhelming. But creating a legal plan for your future can be empowering and can ensure your wishes are met. The earlier you get your legal documents in order, the better prepared you and your family will be. Then you can focus on your health and enjoying your life. The first step in your planning process is to review any existing legal documents you have in place and make any necessary updates. If you have not executed any type of estate plan before, below is a list of some of the documents you might need. You will want to put together your estate plan while you are still capable of making these important decisions about your future. Power of Attorney – to name the person who will take care of your financial decisions when you are no longer able to. Medical Power of Attorney – to name the person who will take care of health decisions on your behalf when you are no longer able to. Advanced Directive/Living Will – to express your wishes for what medical treatment you want, or do not want, near the end of life, such as life-prolonging treatments. Adult Guardianship – to name the person who will take care of you and your property when you are no longer able to. You can also designate if there is someone you do NOT wish to be your guardian. Last Will and Testament – to provide instructions on how your property will be distributed upon your death. Understandably, some people fear that when they execute these documents, they are immediately turning over their rights to others and they are simply not ready to take that ultimate step. However, any legal documents that you execute now, can be written so that they do not become effective until you have been found to be “incapacitated” by a physician. Importantly, legal capacity is most-often guided by the input of your physicians. It is important that you take care of these things as soon as possible to ensure your wishes are met. If you need legal assistance, please contact our office at (972) 435-7938 or info@cawlfieldlaw.com . With an office in Celina’s historic downtown square, we serve communities throughout the region, including Collin County, Denton County, Grayson County, Cooke County, Tarrant County, and Dallas County.

Keeping your financial records organized and easy to access will be well worth the time spent in the event of an emergency. In order to help you get started, we have put together an Estate Organizer. The Organizer is a form for you to indicate who needs to be contacted in case something unexpected happens to you, and offers a place for you to list where all of your assets and documents are located. Be sure to keep this somewhere it will be found in an emergency, such as your home office, with your original Will, and/or in your safe deposit box. It is also important to update this document regularly, such as at the beginning of a new year. Once you have completed this form, don’t forget to communicate with someone where they will find this information! ESTATE ORGANIZER If you need assistance with any aspect of your estate plan, please call us at (972) 449-8557 or contact us online. With an office in Celina’s historic downtown square, we serve communities throughout the region, including in Collin County, Denton County, Grayson County, Cooke County, Tarrant County, and Dallas County.

A special needs trust is a legal arrangement that lets a disabled beneficiary receive financial support without jeopardizing essential government benefits, such as Social Security and Medicaid benefits. The reason this is such an important arrangement is a person cannot qualify for those benefits if they have assets worth more than $2,000. Many times, the trust is set up for a child to be funded when the last parent dies, perhaps using life insurance, IRAs, or annuities. However, the special needs trust can be set up by any party who wants to provide financial support to a disabled beneficiary. Another benefit of a special needs trust is the beneficiary may be unable to manage their own finances. When the trust is set up, a trustee will be designated who will manage and distribute the funds on behalf of the beneficiary. The beneficiary of the trust will not have any control over how the funds are distributed. However, the trustee can spend the funds on things that improve the beneficiary’s quality of life, such as: Phone service Electronics Education Entertainment such as going to the movies, plays, and cultural experiences Vacations Eyeglasses Medical, dental, rehabilitative therapy, and occupational therapy If you need assistance with a special needs trust, please call us at (972) 435-7938 to schedule a confidential, no-obligation initial consultation, or contact us online . With an office in Celina’s historic downtown square, we serve communities throughout the region, including in Collin County, Denton County, Grayson County, Tarrant County, and Dallas County.

Estate planning is an important part of financial planning, but something many Americans procrastinate. If you are searching for an Estate Planning Attorney , you are headed in the right direction! Having a valid will, medical proxy, or power of attorney, potentially creating a trust, and maximizing your loved ones’ inheritances by minimizing taxes are all important matters you don’t want to leave to chance. Having an estate plan in place limits the potential for family discord and possible legal battles should you become incapacitated, as well as after your death. An Estate Planning Attorney can help you prevent crucial oversights and assist you in adjusting your plans as your circumstances, and laws, change. Here are a few tips for finding the best Celina Estate Planning Attorney for you: Look for a Specialist Not all attorneys specialize in estate planning. So, you’ll want to find one whose primary focus is estate and trust law in your state. Ideally, the Estate Planning Attorney has worked in this field for a minimum of three years, so they will be well-versed with the laws of your state and have experience working on estate plans similar to your situation. If you don’t know where to begin your search, ask friends and neighbors for recommendations. You can also research online to see if the Estate Planning Attorney has a website that has helpful information. Ask About the Fees Estate Planning Attorneys’ fees vary by state, experience level, and complexity of the case. Some attorneys charge by the hour, with the average attorney charging anywhere from $250 – $550 an hour. You will want to ask approximately how long it will take them to complete your estate plan. Others offer a flat fee for their Estate Planning services. If you meet with a flat-fee attorney, find out exactly what the cost includes and ask if it’s based on a set number of visits or just a certain time period. Additionally, determine which documents are covered by the fee and whether the fee includes the cost of any future updates. You do not want to end up with unexpected costs at the end of this process, so be sure you understand how and when you will be billed. Recognize This Is an Ongoing Relationship You will be sharing personal details of your life with your Estate Planning Attorney and you will want to feel comfortable and listened to. A good Celina Estate Planning Attorney should pay attention to the details and ask questions about your situation to tailor a plan unique to you and your needs. Make sure the attorney listens, asks questions and explains things in a way that you understand. Geography Your Estate Planning Attorney does need to be licensed in your state, but you do not have to select an attorney that is closest to you. Although it may seem convenient to have your attorney right down the road from you, most firms can accommodate meetings over the phone or via Zoom, so you would only need to go into the office to sign the documents. It is more important to find an attorney you are comfortable working with rather than one that is closest to your home. Once you find an Estate Planning Attorney that fits your needs, you can complete your estate plan and have the peace of mind that your family will be taken care of when you are unable to care for them. To schedule a confidential, no-obligation consultation, please call us at (972) 435-7938 or contact us directly online . With an office in Celina’s historic downtown square, we serve communities throughout the region, including in Collin County, Denton County, Grayson County, Cooke County, Tarrant County, and Dallas County.

You should receive an Estate Planning Intake Form from our office, prior to your first meeting. This form will guide you through the items you need to consider prior to our meeting. In the meantime, you can start thinking about people who can manage your affairs, in the event you are unable. Such as: Executor – the person responsible for probating your will, distributing assets to the beneficiaries, and filing the estate tax return, if necessary. Trustee – the person responsible for the long-term management of property for the beneficiaries. Guardian of Minor Children – the person who will take physical care of your minor children should both parents die. Guardian – the person who will take physical care of you in the event you are incapacitated. Power of Attorney – the person who will be responsible for handling your financial affairs in the event you become incapacitated. Medical Power of Attorney – the person who will make medical decisions for you in the event you are unable to make them yourself. In some cases, the same person may be able to handle several of these designations. But there are times you will want different people to manage the different areas. These are the types of decisions we can help you with. And finally, start thinking about how you would like to distribute your property in the event of your death. You do not have to have all of these decisions made before our meeting. We know this is not easy to think about and The Cawlfield Law Firm is here to help!

A well-crafted, up-to-date estate plan will help to protect you and your family. Yet, Forbes reports that nearly half of adults over the age of 55 do not even have a will—let alone a comprehensive estate plan. At The Cawlfield Law Firm, PLLC , we want to make sure that you have an estate plan for the future that effectively protects you and your loved ones. With a few relatively simple steps, you can get the peace and security that you need. Here, our Celina estate planning lawyer offers an estate planning checklist to help get you started.