Houston estate planning attorney Whitney L. Thompson (https://www.wthompsonlaw.com/4-toxic-myths-your-estate-planning-attorney-wants-you-to-stop-trusting) releases a new article explaining the common misconceptions about estate planning in Texas. The lawyer mentions that many people do not understand the importance of estate planning. Many people believe in myths about estate planning which stops them from creating their own estate plans.
“In my work as a Houston estate planning attorney, I meet with a lot of people who have different legal needs. What I’ve discovered, however, is that most non-attorneys (and some attorneys who don’t focus on estate planning) have something in common—they don’t understand what estate planning is or what it can do for them. Part of my mission is to change that.” the Houston estate planning attorney says.
The lawyer adds that one common myth in estate law is that estate planning only applies to the very wealthy. This is not true, according to the estate planning lawyer. Estate planning can be beneficial to anyone with assets or properties, no matter their worth. A plan is essential if a person would like their property to be passed on to the people they choose.
Attorney Whitney L. Thompson says that the first step to estate planning is having a will. A will can be enough for some to ensure their wishes are carried out. An individual’s last will and testament will be administered through probate to distribute assets to their beneficiaries. Certain assets such as retirement funds and life insurance policies are exempt from the will. Instead, they go directly to their beneficiaries.
The estate plan describes how an individual would like their property to be dealt with after they have passed away. Texas probate law will apply if an individual does not specify that their spouse will receive their property after their death. Without an estate planning attorney’s assistance, this process could prove very complicated. An estate planning lawyer can help an individual save both time and money by avoiding probate.
In the article, the Houston estate planning attorney says, “Estate planning involves establishing a strategy on how to divide your property upon your death. Planning your estate often involves deciding who will manage your financial and medical affairs in the event that you are unable to make important decisions.”
Lastly, the lawyer emphasizes the importance of having a skilled estate planning attorney when dealing with matters involving estate planning. Having an experienced estate attorney may be able to help an individual understand their rights and help them prepare for the future of their loved ones.
About The Law Office of Whitney Thompson, PLLC
Attorney Whitney Thompson is an experienced family law attorney who helps clients deal with family law matters such as divorce or legal separation. Attorney Thompson also deals with guardianship, probate, and estate planning matters. As an experienced divorce lawyer, attorney Thompson and her legal team have helped families have a smoother divorce process and plan for their future more thoroughly. To schedule a consultation, call (281) 214-0173.
About The Law Office of Whitney L. Thompson, PLLC | Houston Estate Planning Attorney
As a Licensed Attorney, I have spent most of my career helping and representing individuals with Child Support, Divorce, Guardianship, Probate, and Estate Planning challenges. I began this work early on as a law student at Thurgood Marshall School of Law, advocating for residents in the school’s Wills, Probate, and Guardianship clinic.
I was the first member of my family to graduate from college and a first-generation woman entrepreneur. I understand how challenging it can feel when you’re climbing a steep mountain toward your goals, but I’m here to tell you that you’ve got this.
Contact The Law Office of Whitney L. Thompson, PLLC | Houston Estate Planning Attorney
4201 Farm to Market 1960 Rd W Suite 219, Box #116B