Tips from Our McAllen Estate Planning Attorneys

Our McAllen estate planning attorneys want to share strategies to help you and your loved ones navigate estate planning without triggering unnecessary conflicts.

Creating an estate plan includes a few main primary processes:

  • Collecting your documentation
  • Assigning roles in your will and estate plan
  • Signing your will and last testament with proper witnesses

Depending on your needs, it can require so much more. One of the most critical aspects of the process involves the smooth distribution of assets to minimize conflicts among family members. Family ties run deep in the Rio Grande Valley, making avoiding disputes a priority.

Communication Starts Early

If you’re considering beginning your estate planning process, initiating open and honest communication early on is important. While what you do with your assets is entirely up to you, we recommend the following:

  • Encouraging family members to discuss inheritance expectations
  • Voice concerns over protecting the document, potential probate, and wishes.
  • Think clearly about who you want to list as a beneficiary and if receiving a gift is cost-effective for this person.

Be Clear About Roles and Responsibilities

Assigning clear roles and responsibilities can go a long way in avoiding conflict. For instance, you can name an executor or trustee who is impartial and trustworthy and will ensure your assets are distributed per your wishes. You can avoid misunderstandings and feuds by defining the decision-making authority and each family member’s duties.

Make Revisions

Life rarely stays the same for long. Changes in your family dynamics, financial situations, and even laws could affect your current estate plan. We encourage you to update your estate plan if you foresee any changes. This can be done because of:

  • Job Loss
  • Medical updates
  • Newly acquired assets
  • Marriages or divorce
  • Children or grandchildren

Seek Professional Guidance from McAllen Estate Planning Attorneys

The estate planning process can be challenging to navigate on your own, especially with so many expectations from your family members. If you do not have an estate plan or need to update yours, feel free to contact our McAllen estate planning attorneys.

At Fryer and Hansen, we provide personalized guidance and assistance as you create an estate plan that addresses your wishes and considers your family dynamic. Contact us today

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