Archive: February 2022

Estate planning can be uncomfortable. Nobody wants to contemplate their own demise. At the same time, you want your loved ones to be provided for after you die and for your estate to be properly distributed when you’re not there to oversee the distribution. And, having worked very hard to reach this point, you don’t want your estate to be frittered away by taxes and fees.

The solution may be a trust. Contact the estate planning lawyers at Staubus, Blankenship, Legere and Walker PLLC to learn how.

Irrevocable Trusts and Inheritance Tax

Of course, you will not be paying any inheritance or estate taxes. That duty will fall to your heirs and beneficiaries. The purpose of estate planning is to minimize the amount of taxes that need to be paid out from your estate. Your estate planner will explain how your estate is valued in more detail, but there are some things you need to know going into a planning session.

• Inheritance tax. This is a tax heirs must pay for the income they receive from the deceased. The state of Texas abolished inheritance tax in 2015. The inheritance tax is levied against the beneficiaries on the value of the portion of the estate they receive once they inherit.
• Estate tax. Texas has no estate tax. The federal government taxes large estates valued at $11.7 million or higher. The value of the estate is determined prior to the beneficiaries taking their share; in other words, before it has been divided.
• Revocable trust. These trusts allow you, the grantor, to move property in and out of the trust at will during your lifetime. Property in a revocable trust will be valued as part of the estate when it is reassessed following your death.
• Irrevocable trust. When property is placed in an irrevocable trust, it cannot be removed until after you die. This means that when your estate is valued, anything in an irrevocable trust will not be included by the IRS.
• Pour-over will. This type of will automatically transfers all of your current assets into your trust when you die, without the need for further action by your executor.

Estate planning to ensure that your heirs and beneficiaries can keep the largest portion of their inheritance can be a complex affair. Making things more complicated is the changing estate tax exemption. To keep pace with inflation and cost of living, the IRS adjusts the estate tax exemption annually according to a preset cap. This will change again in 2025.

If this sounds complicated, it is. Get in touch with us today and let us help you simplify the process.

Out of State Considerations

In our global community, it is not uncommon for people to have property, both tangible and intangible, in other states, possibly even other countries. Even with a properly managed trust, this other property may be subject to the estate and inheritance tax laws of that state. For instance, although Texas does not have an inheritance tax, Maryland does. Any property owned and transferred in Maryland will be governed by Maryland’s tax laws.

Your Dallas estate planning attorney can guide you through these complex regulations and make sure your wishes are properly stated in your trust. If there are conflicting laws in other states, it is better to discover them ahead of time than to have your heirs find out about them later.

How We Can Help

Anyone with an estate below $75,000 in Texas does not even need to leave a will. Their estate can be managed by the heirs with a simple acknowledgment to the court. If you have real property and large amounts of money and personal property that you want your loved ones to be able to keep after you are gone, you should have solid legal advice and estate planning, rather than trusting to the whims of fate.

The expert legal team at Staubus, Blankenship, Legere and Walker PLLC focuses exclusively on the details of estate planning and litigation. We want to be sure that people with even modest estates avoid costly legal battles and endless probate, and hand their property over to their heirs with a minimum of effort.

Our Dallas estate planning lawyers will review your assets and advise you about the best ways to protect them and your heirs and beneficiaries, including revocable and irrevocable trusts, living trusts, and pour-over wills. We will make certain that your final documents accurately reflect your wishes and desires in clear and concise terms.

We have been practicing estate and probate law in the Dallas area for many years. Contact the of Staubus, Blankenship, Legere and Walker PLLC at (214) 833-0100 if you want to draft your will, need help with your estate planning, or have any other questions about property disposition. If you already have these documents and want help with amendments or codicils, we can work with you on those too.

Call us for a confidential consultation today.

Common misconceptions regarding estate plans might prevent someone from planning for the unexpected. Drafting a will is vital to protect your assets and loved ones, even if you’re young and in good health. You might not think estate planning is necessary. However, it could give you peace of mind if a significant event disrupts your life or cuts it short. 

Most people believe they don’t have to create an estate plan until they’re old or develop a terminal disease. Some people don’t realize the benefits until an accident or near-death experience happens in their lives. Others never create a will and pass away unexpectedly, leaving their family struggling to recover their assets. 

If you don’t have an estate plan or haven’t updated yours in a while, you should consider contacting Staubus, Blankenship, Legere and Walker PLLC to take immediate action. Planning for death may seem like a morbid experience but it can help you secure your family’s future. Creating a valid estate plan is particularly crucial if you have kids and want them cared for when you’re gone. 

Additionally, estate planning isn’t only about what should happen when you die. You can also outline instructions regarding your healthcare if you become incapacitated and can’t make decisions. With the proper legal documents in place, a trusted family member could step in and speak on your behalf.

Below are some common myths about estate planning you should ignore.

MYTH: An Estate Plan Is Only Necessary for Sick and Old People

A common misconception about estate planning is it doesn’t need to happen unless you’re elderly or have received the diagnosis of a life-threatening illness.

However, anyone could lose their life or suffer a debilitating condition, leaving them without the ability to communicate. If you don’t have legal documents in place to instruct others about your wishes, the people you love could face financial hardships and struggle to make the decisions you want.

The truth is that you’re never too young to create an estate plan. Even if you don’t have assets, you might have a pet or kids. It is essential to leave instructions about who should take care of them if you can’t. Otherwise, your children could end up in foster care, and your pets could get dropped off at a shelter.

Whether you have many or only a few assets, your estate plan can direct how they should be distributed. You can include beneficiaries in your will, so they receive things like your bank account, house, or car when you pass away.

If you have pressing questions, don’t hesitate to reach out to us today.

MYTH: Wealthy Individuals Benefit More from Estate Planning

While wealthy people require estate plans to ensure that their high-value assets stay protected, others need one too. It doesn’t matter if you’re not rich or only have one or two assets in your name. You can’t control who receives the funds in your savings account or personal property if you don’t include it in a will or a trust.

Estate plans can involve more than just money and significant assets. You might have family heirlooms you want to pass down when you’re gone. Creating documentation that specifies who should receive certain items could prevent family disputes. If you don’t inform others of what you want, property can go missing, and family members can take each other to court for possession of what they believe they deserve.

MYTH: Estate Planning Is for Death

An estate plan doesn’t only address matters involving a person’s death. It can also be helpful in situations that occur while someone is still alive. Although you might not worry about the possibility of a traumatic life event, anything can happen.

When you create a will, you can designate an executor or administrator to manage your estate and distribute property according to your wishes upon your death. However, a range of other legal documents can protect your interests if you’re no longer competent.

For example, a medical power of attorney gives someone you appoint the authority to make your healthcare decisions when you’re incapacitated. If you create a financial power of attorney, your designated agent can handle your finances if you’re forced to leave the country for an extended period or end up in the hospital.

You can take additional measures to ensure someone is responsible for managing your children’s needs while you’re incapacitated. You can choose a guardian to assume the role of caregiver and set aside funds they can use for your child’s medical care, education, and basic needs.

Contact Staubus, Blankenship, Legere and Walker PLLC

Since 1992, the Dallas estate planning lawyers of Staubus, Blankenship, Legere and Walker PLLC have provided clients with dependable legal services. We know how to create comprehensive estate plans to protect your rights and your family’s future. You can count on our legal team to dedicate the necessary time and resources to plan and execute a valid will and other valuable documents for you.

If you’re considering creating an estate plan, call Staubus, Blankenship, Legere and Walker PLLC right now at (214) 833-0100. You can discuss your needs with us during a consultation and learn about the available options.

A medical power of attorney (POA) is a legal document you create while you’re making your estate plan. This document gives someone the authority to make decisions regarding your healthcare when you can no longer make those decisions for yourself. The person you appoint as your medical POA could instruct your medical team about treatment you don’t want, medications you prefer, and end-of-life care.

A medical POA should be someone you trust completely and who you know will fulfill their obligations and carry out your wishes. Even if they disagree with your decisions, they should be willing to carry out the plans you choose if you become incapacitated and can no longer speak for yourself. When you can’t discuss your medical needs and wants, they are your voice.

Many people choose to create a durable medical power of attorney. A durable POA allows your agent to act on your behalf if something happens to you, preventing you from making your own decisions. Some courts assume a medical POA is durable, but you should explicitly state that in the legal document.

Elements of a Medical Power of Attorney

Medical POAs can also be referred to as:

• Advance directive
• Medical power of attorney directive
• Advance healthcare directive
• Power of attorney for healthcare

A medical POA focuses on medical decisions. You should write one according to state law. If you make an error or don’t include the necessary signatures, someone could challenge its validity in court.

Most people think they don’t need a medical POA unless they develop a terminal illness or physically disabling condition. However, this directive can be useful in many situations. For example, if you’re in a car accident and end up in a coma, you can’t communicate your wishes to your doctors. Your medical POA can step in and direct your healthcare team.

A person who’s been given your medical power of attorney can make decisions regarding:

• End-of-life care
• Blood transfusions
• Do not resuscitate (DNR) order
• Medical supplies and devices
• Medical facilities and providers
• Organ and tissue donation
• Home health care
• Surgical procedures
• Diagnostic testing
• Medications
• Long-term care facilities

Your medical POA can also access your medical records if necessary. Sometimes, reviewing this information can help make informed decisions about your care.

When Your Medical Power of Attorney Takes Effect

A medical POA becomes effective when you become incapacitated. You can also include instructions in your estate plan regarding specific events that authorize your POA to take over your healthcare needs. Examples include:

• An accident puts you in a coma or unconscious state
• You are under general anesthesia
• A doctor diagnoses you with dementia or another disease that interferes with your ability to make good decisions
• A medical condition, such as a stroke, causes communication issues
• You have a lapse in mental health, resulting in incompetence

Your medical power of attorney can take effect whenever you choose. However, it typically becomes effective upon incapacitation. A doctor must confirm your condition in a written letter or in your medical records.

Choosing Your Medical POA

When creating an estate plan, you should carefully choose a medical power of attorney. The person you appoint must be a competent adult at least 18 years old. Minors can’t act as anyone’s POA.

You should also consider these characteristics when deciding whom you want to designate:

• Remains calm in a tense situation
• Communicates with family members regularly
• Makes quick decisions regarding treatment and other necessary choices
• Asks questions if confused about treatment options
• Feels comfortable making vital decisions on the spot
• Knows how to take control and instruct healthcare professionals confidently
• Follows through with your directives regardless of personal opinions

Whoever you choose, it should be someone you know will keep your best interests in mind and follow all instructions you provide. If you can’t trust the person you pick, they shouldn’t be your medical POA.

How to Create a Medical Power of Attorney

Creating a valid and enforceable medical POA requires following these steps:

• Determine whether you need a medical POA – If you want control over your healthcare decisions, you should designate a medical power of attorney. Without one, your doctors can make the decisions they believe are best while caring for you. That could result in extraordinary measures to keep you alive when that’s something you don’t want.
• Pick a dependable agent – You should only choose a medical POA you know you can rely on to make the decisions you want to be made. An emotional or irrational family member might choose medical options that aren’t in line with your wishes.
• Complete the paperwork – You have to fill out several different forms to establish a medical power of attorney. It’s only valid if you sign it in front of a notary public or two witnesses.

Contact Us

Staubus, Blankenship, Legere and Walker PLLC has a team of estate planning lawyers with over 100 years of combined legal experience. We assist Dallas clients with cases involving wills, trust, powers of attorney, and additional elements of estate plans. You can count on us to meet your needs and protect your future.

If you want to create a medical power of attorney for your estate plan, do not hesitate to contact Staubus, Blankenship, Legere and Walker PLLC. One of our Dallas estate planning lawyers can meet you for a consultation to discuss what we can do for you. Call now at (214) 833-0100.

If you are the executor of a will or you’re trying to determine what happens to a family member’s assets after their passing, you may be asking yourself whether you need to hire a lawyer to help you with this process. The probate process can be complex, depending on your situation and the size of the estate, and it’s important to have guidance from an experienced team of attorneys.

The Dallas Estate Litigation Lawyers from Staubus, Blankenship, Legere and Walker PLLC can support you through the entire process, relieving you of the stress that comes with managing a family member’s estate.

What Does a Probate Attorney Do?

A probate lawyer specializes in estates and legal issues regarding probate. Probate is the legal process by which a deceased person’s belongings are transferred to family members or other beneficiaries after death. A will that directs how the estate should be distributed makes the process simpler. If the person died without a will, some of the property may need to go through the probate process in order to finalize the estate.

A probate attorney can assist with some of the following tasks related to management and finalization of an estate:

• Reviewing wills
• Distributing real estate and other property to beneficiaries
• Paying taxes
• Resolving life insurance issues
• Cataloging assets of the estate
• Appraising the value of real estate
• Settling disputes with family members or other beneficiaries
• Paying debts owed by an estate
• Filing documents with the probate court

The probate process includes many steps and deadlines, with a lot of paperwork and legal terms to understand. It could be a simple process or it could go on for a very long time.

An experienced probate attorney can help guide you through the probate process and can make sure you don’t miss an important step that could be costly later on. In the case of a dispute, a knowledgeable probate lawyer is essential. In a difficult and emotional time like this, it’s crucial to have an experienced professional who can provide the support you need.

Why Hire Staubus, Blankenship, Legere and Walker PLLC?

The probate attorneys at Staubus, Blankenship, Legere and Walker PLLC have been handling the estate needs of Texas clients for decades. Our firm specializes in estate litigation, guardianship, trust planning and trust litigation, and we excel in estate planning and asset protection.

We have many years of probate courtroom experience, and we have a record of success with high-stakes will contests and complex dispute resolution, as well as routine probate matters and estate administration. Staubus, Blankenship, Legere and Walker PLLC has achieved an AV rating, the highest legal rating from the law firm rating service Martindale-Hubbell.

What Property Doesn’t Need to Go Through Probate?

Property that was owned solely by the decedent or accounts in that person’s name only may need to go through the probate process in order to transfer to family members. Not all assets must go through the probate process, however. You may be able to avoid the probate process for the following types of assets:

• Retirement accounts, such as an IRA or 401(k), with a named beneficiary
• Wages or salary owed to the decedent
• Property in a living trust
• U.S. savings bonds that are co-owned
• Distributions from a pension plan
• Proceeds from a life insurance policy
• Vehicles with a transfer-on-death registration

Your probate attorney can review all of the assets in question and help you determine whether they need to go through probate. The assets may qualify for “small estate” procedures that avoid probate.

Are There Drawbacks to Doing Probate Without a Lawyer?

It is possible to probate an estate without hiring a probate lawyer. If the estate is simple, and many of the assets don’t need to go through the probate process, an attorney may not be required. However, debt payment, taxes, and asset distribution are all complicated processes on their own. Hiring an experienced probate lawyer like the ones at Staubus, Blankenship, Legere and Walker PLLC means that you can be sure that all the details are covered.

If the estate involves a business, commercial real estate, or is particularly valuable, a probate lawyer is a must. The State of Texas requires full court supervision for estates valued at over $75,000, and in most cases, you will need an attorney for this type of case. If there are disputes among family members regarding the estate, you will need a skilled lawyer.

Talk to a Dallas Probate Lawyer Right Away

Managing a will or an estate can be a complicated and arduous ordeal, even more so if you’re grieving the loss of a loved one. The Dallas estate litigation attorneys of Staubus, Blankenship, Legere and Walker PLLC have many years of experience in estate planning and asset protection. We have helped hundreds of satisfied clients with their estate planning and litigation needs and we can make the probate process as stress-free and simple as possible for you too. Call us today at (214) 833-0100 or fill out our contact form to set up a consultation.

If you are in the process of writing your will or trying to determine how the property of a family member will be handled after their death, you may have encountered the term probate. Probate is the legal process by which a person’s estate, their property and possessions, are handled after they pass on.

In the probate process, a court officially recognizes a person’s death and determines how their assets are distributed among family members and other beneficiaries. If the deceased left a will to direct where their property should go, the procedure may be simpler. Some items do not have to go through probate, but others, especially those lacking titles or not named in the will, may have to go through this process.

How Does the Probate Process Work?

The probate process can be daunting to those without experience, but the good news is that compared to other states, probate in the State of Texas is relatively simple. The Texas probate process can be broken down into several steps:

1. Filing with the probate court – An application for probate is filed with the proper probate court for the county where the deceased was a resident.
2. Posting notice – Before a hearing is held regarding a probate application, there is a ten-day waiting period to allow for anyone to contest the will or the administration of the estate.
3. Hearing and validation – After the waiting period, there will be a hearing and the probate judge will ensure that the will is valid or verify that the deceased did not leave a will. The judge will then appoint an administrator for the estate or will verify that the executor is valid.
4. Inventory of assets – Within 90 days of the appointment of an administrator or executor, that person must compile a list of all the assets held by the estate and file it with the county clerk, in the form of a report known as an Inventory, Appraisement, and List of Claims. This report lists the estate’s assets as well as a reasonably accurate estimation of their value as of the deceased’s passing.
5. Notify beneficiaries – If the deceased left a will, the executor must notify the beneficiaries of the estate. If there was no will, the probate court must determine heirship. In the case of unknown potential heirs, it may be necessary to post notices in newspapers and at the courthouse.
6. Notice to creditors – The deceased may have unresolved debts, also known as liabilities—hospital bills, house or car payments, or other major expenses. The executor must notify creditors of the person’s death and allow them the opportunity to make a claim against the estate.
7. Dispute resolution – If family members or potential beneficiaries wish to contest the will, the probate court must hold a hearing before finalizing the estate.
8. Distribution of Assets – Once any disputes are resolved and the estate has been finalized, the assets are distributed to the beneficiaries.

Probate can be quite a lengthy process, and there are a lot of deadlines to stay on top of and paperwork to submit. An experienced probate attorney can help you through these steps and advise you on the best strategy along the way. If you are involved in an estate probate or dispute and are not sure whether you need the help of a probate lawyer, contact Staubus, Blankenship, Legere and Walker PLLC to set up a consultation about your case.

Common Terms Related to Probate

The probate process contains specialized legal vocabulary and concepts that you may find confusing if you’ve never experienced them. Here are a few commonly used terms.

• Administrator – When a person dies without a will and an executor hasn’t been named, Texas law requires that an administrator be appointed to manage the estate.
• Assets – Property with a monetary value held by an estate. Real estate, vehicles, clothing, jewelry, bank accounts, cash, and furnishings would all be considered assets.
• Beneficiaries – These are the recipients of the property distributed from an estate, whether family members, friends, or organizations.
• Decedent/Deceased – These terms refer to the person who has died.
• Estate – The assets that belonged to the deceased person are collectively known as the estate.
• Intestate – This term refers to an estate whose owner died without a will. A probate court must determine how to distribute the assets of such an estate.

An estate litigation lawyer from Staubus, Blankenship, Legere and Walker PLLC can explain any confusing terminology and answer any questions relating to your own probate case.

Speak with a Texas Probate Attorney Today

Managing your family’s affairs after the death of someone close is hard enough without all the extra strain of sorting out their estate. The probate process can be complicated, and mistakes could potentially be costly. You need a knowledgeable estate lawyer who can guide you through this process efficiently and with a minimum of stress.

The Dallas estate planning and litigation attorneys of Staubus, Blankenship, Legere and Walker PLLC have experience helping hundreds of clients with their estate, trust planning, trust litigation, and guardianship needs. We will be with you every step of the way to offer support and answer any questions you might have.

Call us today at (214) 833-0100 or fill out our contact form to set up a consultation.

Most people want to take care of their family even after they’re gone. Creating a last will and testament can make sure that your assets pass to your chosen beneficiaries upon your death. That way, there won’t be any confusion about what assets you intended to go to which person.

Drafting a last and will and testament isn’t as complicated as you might think. If you want peace of mind knowing there won’t be any confusion about what happens to your property after you pass away, you should hire an estate planning lawyer and begin the process of creating a will today.

Every part of an estate plan has its advantages and disadvantages. A will is no different. There are pros and cons you should consider if you’re thinking about setting up a will.

Pros of Having a Will

The advantages of creating a last will and testament include the ability to:

• Distribute assets how you want – Any property you leave behind will transfer to your named beneficiaries. If you don’t create a will or choose beneficiaries for your estate, the assets will likely be distributed by intestate succession. That means specific heirs will receive your assets according to state law. Creating a will allows you to control who gets what, so you can avoid family disputes.
• Choose a guardian – If you have minor children, you can choose a guardian to assume their care after you pass away. When you draft a will, you can name a guardian and set aside money for them to use to provide for your children. A guardian prevents the child from ending up in foster care or with a family member you don’t want to entrust your children to.
• Appoint an executor – You can choose an executor to manage your assets according to your will when you’re gone. The executor is an individual who handles all aspects of the will by paying debts, distributing assets according to the deceased’s wishes, and closing the estate properly. You don’t have to worry whether your surviving family will honor your wishes when you have a trusted executor to manage your estate on your behalf.
• Create a plan for your pets – Pets are like family to most people. Whether you have a dog, cat, hamster, or lizard, you probably want to know they’ll end up in a loving home when you die. You can use your will to indicate who you want to assume care of your pet upon your death. You can also set money aside so the guardian you choose can pay for food, toys, vet appointments, and other necessities.

Cons of Having a Will

Although a will is beneficial for most people during estate planning, it can also create some challenges. The most common disadvantages of having a last will and testament include:

• It’s public – Once a will enters probate, it becomes a public record. That means anyone can search online for the legal documents and find out the assets you owned when you died. If an estranged relative isn’t included in your will, they could pursue legal action, delaying the process of distributing your assets to your chosen beneficiaries.
• Time-consuming probate – Your estate will likely have to go through probate after you die. That means your loved ones can face a lengthy process to get the court to validate the will so they can receive the assets you left them.
• Incapacitation doesn’t apply – You can’t use a will to appoint someone to take care of your medical, legal, and financial matters if you become incapacitated and can’t make your own decisions. A will only becomes effective upon your death.
• Court procedures in multiple states – Unfortunately, your beneficiaries can’t go through the probate process just one time if you have property in other states. They must submit your will for probate in each state where you own assets.

Contact an Estate Planning Lawyer from Staubus, Blankenship, Legere and Walker PLLC

At Staubus, Blankenship, Legere and Walker PLLC, we have over 100 years of combined experience helping our clients with their estate planning. We will use our resources and personalize our services to meet your specific needs. When you hire us, we can review the circumstances of your estate and draft a will that can protect your assets and family.

You should not attempt to create an estate plan on your own. The option might seem appealing because it saves you money, but you could open yourself up to serious problems down the road. If you don’t draft the documents correctly, your will could be invalid, allowing relatives to sue your heirs for the assets you left behind. Additionally, a poorly drafted estate plan can cause confusion about your final wishes.

If you want to create a last will and testament, do not hesitate to contact Staubus, Blankenship, Legere and Walker PLLC at (214) 833-0100 to schedule a consultation with one of our Texas estate planning lawyers.

You should consider all available options when creating an estate plan. A living trust can protect your assets while you’re alive and the trust can transfer automatically to named beneficiaries upon your death or incapacitation. It’s a valuable part of estate planning to ensure your loved ones receive the property you want them to have if something happens to you.

A living trust differs from a will because it doesn’t become effective when you die. It’s effective from the moment you create it while you’re still alive.

You can also appoint yourself as the trustee so you can continue to manage it throughout your lifetime. You can determine which assets you want to be held in trust and amend the legal document when necessary. For example, you might choose a beneficiary to receive a specific property but need to change the designation if they pass away before you.

There are multiple advantages and disadvantages to creating a living trust. You should consult an experienced estate planning lawyer to determine whether a living trust is right for you. Below are the pros and cons of establishing a trust for your estate plan so you can decide whether it will satisfy your wishes.

Pros of a Living Trust

You could benefit from a living trust in multiple ways. Some of the advantages of creating one include:

• Asset protection if you’re incapacitated – If you become incapacitated and can’t make decisions for yourself, a living trust can keep your assets safe. It also protects your beneficiaries. Appointing a successor trustee allows that person to control the trust and distribute your property according to the instructions you included in the legal document.
• Avoid probate – You could avoid probate by creating a revocable living trust. Probate can be a long process. When a loved one dies, you must go through probate court for a judge to validate the will and allow for the distribution of the assets. A living trust doesn’t have to go through probate, so your successor trustee can automatically transfer the assets to your intended beneficiaries upon your death.
• Maintain privacy – Any part of an estate plan that must go through probate becomes a matter of public record. That means anyone could search online for the documents and find out what assets your relative left behind. If there’s a living trust, which does not go through probate, your named beneficiaries can keep the matter private, so no one knows which property they’re receiving.
• Prevent irresponsible spending – If you’re a parent, you want to know you can take care of your child even after you’re gone. However, many people don’t know how to manage their money responsibly. You might worry your child won’t know how to manage the high-value asset or significant amount of money you left for them. Fortunately, a trust allows you to appoint a guardian to control your child’s spending.

Cons of a Living Trust

Although a trust offers various benefits, there are some drawbacks to creating one. The most common disadvantages of a living trust include:

• Time-consuming work – If you want your assets to be distributed to your beneficiaries without going through probate, you must transfer them to your trust. It can take some time to decide which property you want to hold in trust and go through the necessary measures to transfer those items.
• No protection from creditors – If you have a revocable living trust, creditors can go after the assets to satisfy your debts after you die. That means it could take some time for your family to receive the remaining property, if any, after the creditors take what they need.
• Confusing documents – Unfortunately, if you don’t create a clear and detailed trust, there might be some confusion about the distribution of assets upon your death. If it conflicts with your will or another document in your estate plan, your beneficiaries could face a contentious court battle.
• Money. The initial costs of creating and funding a trust are more than is required to create a will. Additionally, the assets you hold in trust could be subject to estate and income taxes.

Contact Staubus, Blankenship, Legere and Walker PLLC

If you’re considering setting up a trust as part of your estate plan, you should contact the Dallas estate planning lawyers of Staubus, Blankenship, Legere and Walker PLLC today. We can review your assets and other information to determine whether a trust is right for you. Our legal team understands the importance of protecting your property and heirs when you pass away or if you become incapacitated. You can depend on us to protect your interests and create an estate plan that meets your needs.

Call Staubus, Blankenship, Legere and Walker PLLC at (214) 833-0100 to schedule a consultation with one of our Dallas estate planning attorneys or reach out to us online.

A power of attorney (POA) is a legal document giving your chosen attorney-in-fact or agent the authority to handle your affairs based on your best interests in specific situations. Terminal illness, cognitive decline, and traumatic accidents are a few of the common reasons creating a POA could be beneficial.

While drafting a POA, it’s crucial to outline what you want to happen in specific scenarios clearly. For example, if you’re in a car crash and end up in a coma, you should state how you want the situation to be handled. Depending on the type of power of attorney you create, your appointed agent can manage your business, financial, or medical affairs, or all three.

Abuse of a Power of Attorney

When you decide who you want to choose as your agent, it should be a person you trust completely. It should also be someone you know will carry out your wishes regardless of their feelings or opinions about them. Your designated agent could have access to your bank accounts and legally sign documents associated with your healthcare, financial affairs, and legal matters.

Although a power of attorney defines the agent’s role, their authority over someone else’s decisions can lead to abuse. If you become incapacitated, your agent could gift themselves with your assets. Or you might have to leave the country for a business trip, and your agent could decide to use your finances for personal gain in your absence.

Common Types of Power of Attorney Abuse

It’s an unpleasant and disturbing feeling when you realize the person you’ve entrusted with a significant responsibility has betrayed you. You thought they would always act in your best interests and protect you. However, you might have noticed signs that your chosen agent has violated your trust and abused their position in your life.

Power of attorney abuse can take many forms. The most common types you should watch for include:

• Identity theft – An agent can use the access they have to your personal information to open a new bank account, credit line, or investment account with your POA document.
• Breach of fiduciary duty – The agent or attorney-in-fact has a fiduciary duty to act in your best interest from the moment the POA becomes effective. If they breach their duty in any way, they could be liable for lost money or assets.
• Embezzlement – Under certain circumstances, a financial POA grants the agent authority over every financial aspect of a person’s life. With complete access, the agent can embezzle funds from your account into theirs or transfer property that is supposed to go to your named beneficiaries.
• Medical abuse – A medical power of attorney gives the chosen agent the responsibility of deciding your medical treatment when necessary. If you’re unconscious or incompetent, you can’t inform your doctors of the healthcare you want. Your agent might choose to move you into a nursing facility against your wishes or ask your doctors to use life-saving measures you don’t want.

Proving Power of Attorney Abuse Occurred

If you believe your appointed agent is abusing a power of attorney, you should take immediate legal action. You will need sufficient evidence to show the abuse occurred. With financial abuse, providing documentation showing the agent transferred money into their accounts without your approval or made unauthorized purchases with credit cards could be the proof you need.

It’s vital to hire an experienced power of attorney abuse lawyer to assist you with your lawsuit. If you want to recover the losses you suffered, you will need a knowledgeable legal team on your side to build a solid case against your agent. Your lawyer can also help you create a new power of attorney to protect you from abuse in the future.

Contact Staubus, Blankenship, Legere and Walker PLLC Today

Staubus, Blankenship, Legere and Walker PLLC has over 100 years of combined experience in estate planning and litigation. We can help you pursue legal action against the individual responsible for abusing their responsibilities as your POA agent. You should not suffer the consequences of their misconduct. We will provide the guidance and support you need to get through this devastating time in your life.

If you or your loved one was the victim of power of attorney abuse in Texas, do not hesitate to contact Staubus, Blankenship, Legere and Walker PLLC. We can review the circumstances to determine the available legal options and create a strategy to try to resolve the matter favorably. You can depend on our legal team to be your advocate and fight for the justice you deserve.

Call us at (214) 833-0100 or reach out to us online today for your confidential consultation.

A power of attorney (POA) is a legal document granting someone the authority to manage your affairs if you’re unable to yourself. A POA can become effective once you sign the document or if a specific event occurs, such as incapacitation.

When you create a power of attorney, you can appoint an attorney-in-fact, also called an agent, to make decisions on your behalf. There are multiple types of POAs you can draft depending on the kind of affairs you want your agent to manage.

The agent you choose does not have to have a legal background. However, they must be at least 18 years old and of sound mind. You should pick someone you trust to make the decisions you would make regarding your assets, finances, medical care, and any circumstances that arise. Your agent should be a person you know will act in your best interest and who will be willing to carry out the wishes you outlined in the POA.

Types of Power of Attorney

There are different types of POAs. Each one has a unique purpose and offers distinct benefits. You can designate a different agent for each or one person to handle all of your affairs. The different types of power of attorney include:

• Durable and non-durable POA
• Limited POA
• Springing POA
• Medical, financial, or military POA
• General POA

Durable and Non-Durable Power of Attorney

A durable POA goes into effect if you become incapacitated due to an accident or illness. The signed document allows the agent you choose to make specific decisions on your behalf.

You can decide whether you want your agent to have authority over your decisions upon signing the POA or when a medical provider deems you to be incompetent. You can also appoint a specific doctor you trust to determine whether you’re incompetent.

A non-durable POA is effective until you become incapacitated. If you don’t create another legal document to determine what should happen if you’re deemed incompetent, no one will have the authority to speak on your behalf if you can’t speak for yourself.

Limited Power of Attorney

A limited POA grants your designated agent authority over minimal matters. You can set the conditions for the affairs your agent can handle if a specific event occurs, such as when you experience a medical problem or take a business trip to another country. Instead of making all of your decisions, they can only make decisions based on predetermined circumstances.

The most common affairs listed in a limited POA include:

• Collecting debts
• Facilitating business transactions
• Selling real and personal property
• Managing real estate

Springing Power of Attorney

A springing POA becomes effective when a healthcare professional deems you to be physically incapacitated or mentally incompetent. A qualified doctor must declare you mentally incompetent or physically incapacitated before your attorney-in-fact can make decisions on your behalf.

Medical, Financial, or Military Power of Attorney

A medical POA grants your agent the responsibility and authority over medical decisions. If you’re incompetent, unconscious, or unable to speak for yourself for any other reason, your appointed agent can communicate your wishes regarding healthcare to your doctors.

For example, if you have a strong opinion about life support, you can include that in your medical power of attorney. You might not want doctors to use extraordinary measures to keep you alive.

A financial POA allows your agent to make financial decisions on your behalf when specific situations prevent you from being present. For example, if you’re traveling abroad for an extended period, you can give your agent the authority to make important decisions about your finances in your absence.

You can even create a financial POA to kick in if you’re mentally incompetent or incapacitated and unable to make sound financial decisions.

A military POA allows someone you choose to manage your finances while you’re performing your military duties. That person can access your accounts, file taxes, and complete additional financial tasks if you cannot do those things yourself.

General Power of Attorney

A general POA is a broad power of attorney granting your attorney-in-fact authority over a range of decisions, such as:

• Providing gift contributions
• Purchasing life insurance
• Managing business and financial transactions
• Operating a business
• Settling claims

Your designated agent can protect your interests and handle matters outlined in the document while you’re traveling, if you become incapacitated, and in various other situations.

Speak to an Experienced Estate Planning Lawyer Today

Contact an estate planning lawyer from Staubus, Blankenship, Legere and Walker PLLC immediately if you want to create a power of attorney and don’t know which one would be most beneficial for you. You need guidance to choose the right POA to cover your specific circumstances and to help you draft an enforceable legal document so no one can argue its validity. Call (214) 833-0100 now for an appointment.

A living trust can be a vital part of creating an estate plan. You could reap various benefits by setting up a valid and enforceable living trust. It can protect not only your assets but your family as well.

A living trust is a legal document you can establish to protect your assets during your lifetime. Your appointed trustee has the authority to manage any property and assets you move into the trust and eventually transfer them to your named beneficiaries as outlined in the document upon your death or incapacitation.

Everyone knows they should create a last will and testament. Unfortunately, many people don’t understand how beneficial a living trust can be.

If you’re considering your options during estate planning, you should review the main reasons below for why you should create a living trust.

You’re Unable to Make Decisions for Yourself

Creating a living trust protects any assets you transfer into the trust during your lifetime so your loved ones can have access to them if you become incapacitated. It’s a good idea to set up a living trust if you have a terminal illness, cognitive disease, or are older.

If something happens to you and you can’t speak for yourself, the trustee you choose can manage your trust on your behalf.

Even if you’re young and healthy, creating a living trust is an excellent idea in case you’re involved in a traumatic accident, such as a car crash, and end up in a coma. You won’t be able to inform your family of your wishes or how to pay for your medical bills and other expenses. However, granting your trustee access to the trust allows them to manage your funds without the need to go to court.

You’re Responsible for the Care of Minor Children

If you want to ensure your child’s future, you can hold specific property in your living trust to have transferred to them when they reach the age you designate.

Some people decide 18 years old is the right age to give their kids access to their assets. However, others might think that’s too young for someone to be responsible for managing their own finances and choose to transfer assets out of the living trust and to the children once they reach 25 or even 30 years old.

When you establish a living trust, you can be the trustee yourself and appoint a successor trustee in case something happens to you, or you can decide who you want to be the trustee. The trustee manages the assets held in trust until they can transfer them to your children based on the directions you left behind.

You can also include specific terms regarding which assets your children can access and at what ages. For example, you can create a payment plan for your kids to receive a predetermined amount of money every month starting at the age you decide. That way, they can’t spend the funds frivolously all at once.

Your Beneficiaries Won’t Have to Go Through Probate

Probate can be a complicated and time-consuming process. It involves a probate judge validating a deceased’s person’s estate and allowing the beneficiaries to receive the assets outlined in the legal document. Unfortunately, that means it could take weeks or even months before your heirs can use the funds and additional property left to them in your estate plan.

With a living trust, your beneficiaries can avoid probate and gain immediate access to your assets upon your death, incapacitation, or another specified event without going to court for authorization first.

Keep Your Private Matters Private

If your surviving relatives have to go through probate to receive your assets, your estate becomes a matter of public record. Anyone can look up the information online, preventing your estate from remaining private.

If you set up a living trust, your family avoids the probate process and can manage your assets privately. That means no one will have the ability to search for the assets you owned when you died and your named beneficiaries that took ownership of them after completing probate.

Contact an Experienced Estate Planning Attorney

You don’t want your loved ones to struggle if something happens to you. You want to ensure they’re taken care of if you’re no longer able to care for them whether you pass away or become incapacitated. Creating a solid estate plan can protect your property and family and give you peace of mind knowing your heirs will receive the assets you left for them without any obstacles getting in their way.

If you’re thinking about creating a living trust, you should speak with an experienced and knowledgeable estate planning attorney from Staubus, Blankenship, Legere and Walker PLLC. We can review your assets to determine whether a living trust could be beneficial for you. Call us today at (214) 833-0100.