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Estate Planning Professionals Providing Peace of MindCPAs and Attorneys

June 2016 Archives

Making a will involves important and vital preparations

It seems that the reason that more than half of Americans, including those residing in Texas, don't have a will is because people do not like to think about death. People also have a tendency to view themselves as immortal. That tendency, however, is not amusing or tolerable when a family ends up having to spend substantial funds and engage in a great amount of work to clear up the problems left in the wake of a loved one who passed without having prepared a will.

A will is a key concept in the terminology of estate planning

Some people in Texas and elsewhere may find the terminology of estate planning to be somewhat confusing. For example, a will and a living will are two very different things. A will is a testamentary declaration that legally states the testator's instructions for distributing his or her assets at death. A living will is a legal declaration addressed to one's health care providers telling them how to handle one's treatment during a last illness.

High costs cause many to ignore long-term care needs

The federal government estimates that 70 percent of persons 65 and older will need help with daily activities during their later years. Despite that figure, other reports indicate that over one-third of people 40 and over have done nothing to prepare for the time when they may need such care. Generally, people throughout the country, including here in Texas, are lacking the confidence that they will be able to pay for long-term care needs, and they have in a sense blocked the subject from their consciousness.

Estate planning and financial planning work together

Those residing in Texas who take pride in having a growing asset base and a secure financial life will likely also be inclined to plan for their estates. These matters are best coordinated into an organic whole, connected together. Estate planning can set one's finances on the right path and give the peace of mind that comes with knowing that one's loved ones are protected.  

Estate planning succeeds with aggressive action and expert help

For those Texas residents who are uncertain of its meaning, estate planning is the process of planning for the orderly and most effective use and disposal of one's assets both during life and at death. Estate planning is closely related in many ways to the activity of financial planning. Some concrete examples of estate planning actions are: making a will, buying life insurance, creating a living trust, opening a retirement account and supporting the funding of an investment portfolio.

Our Office Locations

The Livens Law Firm
2516 Harwood Road
Bedford (Fort Worth), TX 76021
Phone: 817-545-3425
Toll Free: 800-569-2663
Fax: 817-545-9847
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Addison Office
14135 Midway Rd.
Suite G-250
Addison, TX 75001
Phone: 972-685-5202
Fax: 972-685-5206
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