As a prudent and sound-thinking Texas resident, you’re into averting and not promoting disasters, right?
We know that readers of our estate planning blog posts at the established central Texas law firm of Michalk, Beatty & Alcozer in Killeen peruse our entries for accurate and relevant information concerning estate-linked matters.
That is understandable. We note on our website that, “Planning for the future is something many families in Texas have on their minds.”
Transitioning from planning to doing is often an easier-said-than-done proposition when it comes to estate planning and administration, though. A recent national media piece stresses that engaging the estate planning process “is rarely viewed as fun or exciting.”
That is true for many reasons. Some would-be planners think that planning can always be delayed to a future date. Other don’t clearly see on-point benefits accruing from the process. And it is common for legions of individuals and families to be a bit intimidated by the legalities. Candidly, many people think estate planning is decidedly complex and a realm where mistakes can be easily made.
Indeed, it can be, but that is often the case only when planning is approached in an incomplete and haphazard fashion. The above-cited Fox Business article does point to “blunders” that occur (e.g., improper beneficiary designations, failure to fund a trust and/or making wrong tax-linked moves), but it also notes that they that can be easily avoided when a planner take a bit of time to get things right at the outset.
An experienced estate planning legal team can help with that.