Notice: Due to COVID-19, we can conduct consultations either via phone or email. Please don’t hesitate to call us if you have any questions. Click Here to Learn More

J. Roland Jeter, P.C.
972.330.4050
  • Stay Connected

  • Home
  • Attorney Profile
  • Staff Members
  • Practice Areas
  • Reviews
  • Blog
  • Contact Us
  • Call Today Call Today
  • Email Us
  • Our Map
  • Menu
    Home
    Attorney Profile
    Staff Members
    Practice Areas
    Family Law
    Criminal Defense
    Estate Planning
    Elder Care
    Reviews
    Why Hire Us?
    Blog
    Contact Us
    Site Map

Help Your Family with These Estate Planning Tips

Blog 2017 November Help Your Family with These Estate Planning Tips
Previous Post  |  Next Post

Help Your Family with These Estate Planning Tips

Posted By J. Roland Jeter, P.C. || 27-Nov-2017

No matter how big your estate is, it is important to create an effective estate plan in order to ensure that your family is able to inherit your assets. Estate plans can be used to help limit the amount of taxes that your beneficiaries will owe. In this blog, we provide valuable estate planning tips that you can use to ensure that your family is protected after your death.

Make a Declaration of Who Will Get What

If you do not have an adequate will at the time of your death, the laws that govern your state will ultimately decide who will inherit your assets. This also includes nonfinancial assets like jewelry or old cars that hold high amounts of sentimental value. However, a will might not cover assets for which beneficiary designations are subject to the terms of the governing agreements; like tax-deferred retirement accounts and life insurance policies. You should consult with an attorney to determine what rules apply to you.

Determine How Your Assets Should Be Spent

If you would like some of your assets allocated to cover certain expenses, you should create a trust that includes such provisions. For example, you might want specific amounts of your assets to be used to cover college and special needs expenses for certain individuals. The trustee of the trust would be legally bound to see that your designated amounts are used to cover these expenses.

Try to Minimize Estate & Income Taxes

If you are anticipating that your beneficiaries will owe estate and income taxes on their inheritance, you should look into tax-efficient strategies that can be used to help minimize their expenses. One example of this is to leave your taxable assets to charities and leave your tax-free assets to your other beneficiaries.

Need help planning your estate? Contact our Irving estate attorney to get started on your free consultation today.

Categories: Fiduciary Duty

Share Post

Practice Areas

How Can We Help You?

  • Family Law
  • Criminal Defense
  • Estate Planning
  • Elder Care

Request a Consultation

Roland Jeter can inform you of your rights and options so there are no surprises along the way.

Send My Information
  • Home
  • Site Map
  • Privacy Policy
  • Contact Us
J. Roland Jeter, P.C.

Call Today (972) 330-4050

J. Roland Jeter, P.C. - Irving Lawyer
2505 Texas Drive, Suite 109, Irving, TX 75062 View Map
Main (972) 330-4050
Local (972) 251-2333
Website: http://www.rolandjeterlaw.com/
© 2023 All Rights Reserved.

Attorney Roland Jeter also Serves
as Counsel to McCarthy Law PLC

McCarthy Law
Internet Marketing Experts The information on this website is for general information purposes only. Nothing on this site should be taken as legal advice for any individual case or situation. This information is not intended to create, and receipt or viewing does not constitute, an attorney-client relationship.

Not certified by the Texas Board of Legal Specialization of the State Bar of Texas