Many of our readers have experienced the slow heartbreak of watching an elderly relative’s health deteriorate to the point of near incapacity. While the primary concern in this type of situation is obviously the health of the relative, there may be important issues involving that person’s assets that need to be addressed as well. If the relative hasn’t laid out the appropriate estate plan, the potential beneficiaries can have increased concerns about the preservation of the assets involved.
One of the overriding goals that many people have when they are starting their estate plan is to avoid probate litigation among their heirs and other relatives. Heirs and beneficiaries likely have those same concerns. When a person dies and the probate process begins, those heirs and beneficiaries who stand to gain something from the estate may become concerned about the depletion of the estate during the legal process.
So, how can assets be preserved so that legal challenges can be avoided and the probate process goes as smoothly as possible? Well, the first step is to have a sound, comprehensive estate plan. Another important step can be to communicate with all involved – heirs, beneficiaries, friends and relatives – so that everyone is clear as to what the wishes are when it comes to the assets in question.
At our law firm, we do our best to work with our clients to make sure that they have the information they need to make the right choices when it comes to establishing their estate plans. Estate plans can contain crucial legal documents that can have an impact on many other people. For more information about how our law firm attempts to help Texas residents with estate planning needs, please visit our estate planning page.