Asset Protection
High School Graduate POA's
Probate and Trust Administration
Estate Planning
Everyone Needs an Estate Plan
Many people believe that estate planning is only for people who are particularly wealthy, have elaborate plans in mind for passing their money to their heirs, or for people who are acutely ill and contemplating their death. This could not be farther from the truth!
Asset Protection
A revocable living trust provides no asset protection for the trust maker during his or her life. Upon the death of the trust maker, however, or upon the death of the first spouse to die if it is a joint trust, the trust becomes irrevocable as to the deceased trust maker’s property and can provide asset protection for the beneficiaries, with two important caveats. First, the assets must remain in the trust to provide ongoing asset protection. In other words, once the trustee distributes the assets to a beneficiary, those assets are no longer protected and can be attached by that beneficiary’s creditors. If the beneficiary is married, the distributed assets may also be subject to the spouse’s creditor(s), or they may be available to the former spouse upon divorce.
High School Graduate POA’s
We understand there is an overwhelming list of to-do’s when your child graduates from high school. Did you know that estate planning should be on that list? There are very important documents that every 18-year-old should have in place whether going off to college, staying at home and going to a local college or beginning a job or career.
Probate and Trust Administration
Probate is a court-supervised process for distributing the individually-owned assets of a deceased person. Assets are distributed to beneficiaries in accordance with the instructions written in the person’s will. An estate planning attorney can help you walk through the steps of probate in order to make transferring of a loved one’s property according to his or her wishes. We also assist with transferring property of a loved one who passed away without a will. This process is called an heirship.
We are ready to help you and your family!
Erin Lucke is a dedicated, conscientious estate planning attorney who has yours and your family’s best interest at heart. If you have any questions, please feel free to contact her.
Learn More about Erin
This video for the Law Office of Erin Lucke’s estate planning and probate law practice in The Woodlands, TX explains why it is so important to have a will prepared, and why you have an estate planning attorney do it for you. The candid interview provides a brief overview of what attorney Erin Lucke enjoys doing every day.
If you are interested in having our office do your will or you have questions about updating an existing will, please contact us today.
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