Experienced Estate Planning Lawyer in El Paso, TX
Estate planning is one of the most important steps a person can take in determining how their final property and health wishes are handled. A comprehensive estate plan can resolve numerous legal issues in the future. The Law Office of Steve Ortega, PLLC, helps clients determine their estate planning needs in El Paso, Texas. Each estate plan is specific to the person’s needs and financial situation. Different methods like a Will or Trust can protect your assets and keep your estate safe; we can guide you on what is best.
Leave an estate plan your family can depend on
Preparing for a worst-case scenario or sudden death is never easy. Having an estate plan will lessen the burden on your loved ones and allow them the time to mourn without having any legal headaches. The Law Office of Steve Ortega, PLLC, can help you determine if a Will or Trust is needed. Depending on your situation, a Living Will, or health care directive may also be required. We can also make sure you have a plan in place to pass on your assets and property to your chosen beneficiaries. The Law Office of Steve Ortega, PLLC, will explain how an estate plan works and answer any questions you have. We can help develop a plan to give you and your family peace of mind before passing away.
Elements of Estate Planning in El Paso, Texas
Although a Will is a crucial part of an estate plan, it only takes effect after you die. If you become temporarily or permanently disabled, a full estate plan, including the power of attorney and Living Will, will better suit your needs.
We can help you establish any of the following:
• Living Will-
A Living Will is a legal document created to outline specific healthcare choices if you are in an accident and become disabled and cannot communicate your wishes. It can help your loved ones make medical decisions knowing you chose them yourself. A Living Will can cover healthcare procedures such as breathing tubes or ventilators, feeding tubes, blood transfusions, organ donation, pain medications, and CPR preferences.
• Power of Attorney-
A power of attorney is a legal document that allows another person to make decisions and act on your behalf. It gives the person the authority to make financial or medical decisions if you become disabled and can’t make choices for yourself. A power of attorney allows someone to manage affairs when you are no longer able to.
• Last Will and Testament-
A last will and testament is a legal document that outlines when and how your beneficiaries will proceed with inheriting your assets and property. The legal document will also appoint the individual who will execute the Will when you pass away. They will be responsible for settling any final affairs and putting your estate through the probate process, which is needed to move ownership of your assets to the beneficiaries.
• Living Trust-
A living Trust is a legal document created to designate a legally responsible Trustee for managing your assets to benefit future beneficiaries. Having a living Trust before you pass away allows for the easy transfer of assets and property and bypasses the complex probate process.
• Healthcare Power of Attorney-
A healthcare power of attorney is a legal document that will legally appoint another person to make medical decisions about your medical care. It will help you if you can no longer communicate your wishes regarding medical care and treatment.
• Business Succession Plan-
A business succession plan is a pro-active tool if a business owner were to become terminally ill, disabled, or die.
• Asset Protection-
If you are a business owner, you must protect your assets and estate if someone ever files a lawsuit against you.
• Guardianships-
A guardianship is sought when the ward (the person in need of help) becomes incapacitated because of a physical or mental condition and can no longer care for themselves.
• Advance Directives-
Advance directives are legal documents that allow you to direct your family and health care professionals about end-of-life care before something unexpected happens.
• Gifting Strategies-
Gifting strategies to your beneficiaries or a charitable organization can help reduce your estate taxes.
• Transfer on Death Deed-
With a Transfer on Death Deed, it allows for a Grantor to transfer property to the beneficiary quickly upon the Grantor’s death.
• Ladybird deeds-
A Ladybird Deed, also known as an enhanced life estate deed, is a legal document that allows property owners to transfer property to their family members when they die.
• Probate avoidance strategies –
There are probate avoidance strategies you can put in place before you pass away, so your family is not forced to go through the probate process. Additionally, The Law Office of Steve Ortega, PLLC, will work with you throughout your lifetime and make sure your estate plan is updated as your assets grow, and choices or circumstances change.
Why is Estate Planning Important?
Estate planning can significantly ease the strain on your family as they navigate through a difficult time. In addition, proper estate planning can minimize taxes on your estate, reduce expenses, provide for your family, prepare for physical or mental incapacity, and divide assets among your loved ones more quickly. An estate planning lawyer will work with you during your lifetime, so you must find a lawyer you Trust. We understand that making a comprehensive estate plan in El Paso, Texas, can be daunting, and that’s why we’re here to help.
