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7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
THE 411 ON ESTATE
PLANNING
7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
ESTATE PLANNING ESSENTIALS
7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
Any estate planning attorney has his or her share
of horror stories from years of working with
clients to create an estate plan.
7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
Whether its issues regarding
ownership of property or family
disputes of a loved one's estate.
7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
Or, if they do create a plan, they
don't consider all of the potential
issues that may arise. The reality is,
even the most basic estate plan can
go a long way toward avoiding
family conflict.
7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
AN IMPORTANT TIP ABOUT YOUR
LAST WILL AND TESTAMENT
7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
Regardless of how many assets you have, you should
obtain an estate planning attorney to draft an
appropriate will to ensure that your family, and the
court, have a clear roadmap for how you want your
estate handled.
7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
Always REMEMBER that the value
of an asset is not always seen in
terms of money. Some property will
have more of a sentimental value.
7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
Discuss the value of certain assets
with your family ahead of time to
avoid problems in the future if you
leave that property to the "wrong"
person.
7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
AN IMPORTANT CONSIDERATION WHEN
DRAFTING A WILL
7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
Never rely solely on your expectation that
your children will be able to decide who gets
what.
7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
In many cases, money and property
can divide a family quicker than
anything else.
7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
You should not assume that your
family will simply accept every
provision you include in your WILL.
Do your best to discuss potential
areas of conflict with them while
you are still able to do so.
7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
Don't forget to review you will every
few years, or whenever there is a
major change in your life
circumstances, such as the addition
of new family members, divorce, or
changes in you financial situation.
7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
SELECTING A TRUSTEE FOR YOUR
TRUST
7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
First, discuss your options to create a
trust with an estate planning attorney.
7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
Choose an appropriate trustee to
manage your trust, someone who
will make an appropriate fiduciary.
That means some who can be
trusted.
7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
GET PROFESSIONAL ASSISTANCE IN
DRAFTING YOUR TRUST
7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
Trusts are usually complicated estate
planning instruments which, if not handle
properly, may not be valid.
7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
The best thing to do is seek the
assistance of an estate planning
attorney who will understand the
tax consequences and benefits of
the various types of trusts.
7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
Also, do not forget to name a
successor trustee along with your
primary trustee. There are various
reasons your chosen trustee may
not be able to serve in that capacity
in the future.
7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
CHOOSE YOUR AGENT WISELY
7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
Understand THAT a durable power of
attorney can benefit anyone, regardless of
your socioeconomic status.
7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
The possibility of incapacity is
always there. Just in case, you need
to choose a trusted friend, associate,
or family member to have power of
attorney over your affairs in case
you become incapacitated.
7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
This is a tremendously powerful
appointment, as the person you
choose will have the ability to make
most of the financial decisions that
you would normally make, so trust
is of the utmost importance.
7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
DURABLE POWER OF ATTORNEY FOR
HEALTH CARE
7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
Also, do not neglect the need to address
your medical care, as well as your financial
affairs.
7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
A health care power of attorney, just
like a financial power of attorney,
gives your agent the authority to
make health care decisions on your
behalf.
7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
AVOID THIS MISTAKE WITH DURABLE
POWERS OF ATTORNEY
7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
Do not assume that your spouse will simply
take over and handle things for you if you
become incapacitated.
7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
It is possible that your spouse won't
be available. For instance, if you
are both injured in a car accident
and both are incapacitated then you
will need someone to handle your
affairs.
7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
If at all possible, your financial
power of attorney and your
healthcare power of attorney should
not be the same person. That way,
no one person will have nearly
complete control over your future.
7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
THE BENEFITS OF AN ESTATE
PLANNING ATTORNEY
7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
When it comes to planning for your future and
your family's future, the advice of an estate
planning attorney can be irreplaceable.
7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
Estate planning attorneys can
provide you with the guidance you
need to make all of the important
choices that are necessary.
7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
Your attorney can describe all of
your options and help you decide
what tools are best for
accomplishing your goals.
7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
CONTACT US!
7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
If you have questions regarding
your estate plan, or any other estate
planning needs, please contact The
Vermillion Law Firm, LLC for a
consultation either online or by
calling us toll free at (888) 567-
5745.
7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
LEARN MORE ABOUT ESTATE
PLANNING IN TEXAS
7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
(972)386-4560
www.VermillionLawFirm.com
The Vermillion Law Firm, LLC

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The 411 on Estate Planning

  • 1. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560 THE 411 ON ESTATE PLANNING
  • 2. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560 ESTATE PLANNING ESSENTIALS
  • 3. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560 Any estate planning attorney has his or her share of horror stories from years of working with clients to create an estate plan.
  • 4. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560 Whether its issues regarding ownership of property or family disputes of a loved one's estate.
  • 5. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560 Or, if they do create a plan, they don't consider all of the potential issues that may arise. The reality is, even the most basic estate plan can go a long way toward avoiding family conflict.
  • 6. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560 AN IMPORTANT TIP ABOUT YOUR LAST WILL AND TESTAMENT
  • 7. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560 Regardless of how many assets you have, you should obtain an estate planning attorney to draft an appropriate will to ensure that your family, and the court, have a clear roadmap for how you want your estate handled.
  • 8. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560 Always REMEMBER that the value of an asset is not always seen in terms of money. Some property will have more of a sentimental value.
  • 9. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560 Discuss the value of certain assets with your family ahead of time to avoid problems in the future if you leave that property to the "wrong" person.
  • 10. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560 AN IMPORTANT CONSIDERATION WHEN DRAFTING A WILL
  • 11. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560 Never rely solely on your expectation that your children will be able to decide who gets what.
  • 12. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560 In many cases, money and property can divide a family quicker than anything else.
  • 13. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560 You should not assume that your family will simply accept every provision you include in your WILL. Do your best to discuss potential areas of conflict with them while you are still able to do so.
  • 14. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560 Don't forget to review you will every few years, or whenever there is a major change in your life circumstances, such as the addition of new family members, divorce, or changes in you financial situation.
  • 15. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560 SELECTING A TRUSTEE FOR YOUR TRUST
  • 16. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560 First, discuss your options to create a trust with an estate planning attorney.
  • 17. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560 Choose an appropriate trustee to manage your trust, someone who will make an appropriate fiduciary. That means some who can be trusted.
  • 18. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560 GET PROFESSIONAL ASSISTANCE IN DRAFTING YOUR TRUST
  • 19. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560 Trusts are usually complicated estate planning instruments which, if not handle properly, may not be valid.
  • 20. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560 The best thing to do is seek the assistance of an estate planning attorney who will understand the tax consequences and benefits of the various types of trusts.
  • 21. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560 Also, do not forget to name a successor trustee along with your primary trustee. There are various reasons your chosen trustee may not be able to serve in that capacity in the future.
  • 22. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560 CHOOSE YOUR AGENT WISELY
  • 23. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560 Understand THAT a durable power of attorney can benefit anyone, regardless of your socioeconomic status.
  • 24. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560 The possibility of incapacity is always there. Just in case, you need to choose a trusted friend, associate, or family member to have power of attorney over your affairs in case you become incapacitated.
  • 25. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560 This is a tremendously powerful appointment, as the person you choose will have the ability to make most of the financial decisions that you would normally make, so trust is of the utmost importance.
  • 26. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560 DURABLE POWER OF ATTORNEY FOR HEALTH CARE
  • 27. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560 Also, do not neglect the need to address your medical care, as well as your financial affairs.
  • 28. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560 A health care power of attorney, just like a financial power of attorney, gives your agent the authority to make health care decisions on your behalf.
  • 29. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560 AVOID THIS MISTAKE WITH DURABLE POWERS OF ATTORNEY
  • 30. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560 Do not assume that your spouse will simply take over and handle things for you if you become incapacitated.
  • 31. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560 It is possible that your spouse won't be available. For instance, if you are both injured in a car accident and both are incapacitated then you will need someone to handle your affairs.
  • 32. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560 If at all possible, your financial power of attorney and your healthcare power of attorney should not be the same person. That way, no one person will have nearly complete control over your future.
  • 33. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560 THE BENEFITS OF AN ESTATE PLANNING ATTORNEY
  • 34. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560 When it comes to planning for your future and your family's future, the advice of an estate planning attorney can be irreplaceable.
  • 35. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560 Estate planning attorneys can provide you with the guidance you need to make all of the important choices that are necessary.
  • 36. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560 Your attorney can describe all of your options and help you decide what tools are best for accomplishing your goals.
  • 37. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560 CONTACT US!
  • 38. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560 If you have questions regarding your estate plan, or any other estate planning needs, please contact The Vermillion Law Firm, LLC for a consultation either online or by calling us toll free at (888) 567- 5745.
  • 39. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560 LEARN MORE ABOUT ESTATE PLANNING IN TEXAS
  • 40. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560 (972)386-4560 www.VermillionLawFirm.com The Vermillion Law Firm, LLC