When you put effort into your estate plans, you help draw a roadmap that directs how your estate—or the assets and properties you have worked so hard to acquire—will be distributed upon your passing.

By making your wishes clear, you not only help to ensure that your grieving loved ones will not be left battling over their inheritances but also help to preserve the overall value of your estate. This means that less of it will be lost to legal fees and probate costs.

All told, estate planning has plenty to recommend it, and working closely with an experienced Round Rock estate planning attorney can afford you the peace of mind that comes from knowing your estate planning needs are in good hands.

Cutting Costs over Time

By implementing strategic estate planning, you can structure your assets to seriously reduce the costs your estate will incur when it passes to your named heirs and beneficiaries.

Without a plan in place, you cannot shield your loved ones from unnecessary expenses, and you cannot ensure that your assets will pass according to your wishes. In fact, the laws of intestacy in Texas – or the laws that govern inheritance when the decedent has no will – may not align with your wishes well or at all.

Minimizing Probate Costs

Probate refers to the legal process of managing the administration of a will or of an estate when there is no will. This includes assigning an executor, validating the will, paying final debts and final taxes, and distributing the decedent’s assets according to the wishes laid out in the will or according to state laws if there is no will.

There are a range of expenses associated with probate, including court costs, executor fees, and legal expenses, and your estate will bear the cost of these, which means that the amount you ultimately leave to your loved ones will be reduced.

By implementing well-considered estate plans, however, you can minimize your probate needs and the associated costs.

Reducing Drama when Hearts Are Heavy

The stress and grief associated with losing a loved one can set the stage for hurt feelings, disagreements, and even legal battles – especially if any of your loved ones are taken by surprise regarding how your assets will be distributed.

A well-crafted will leaves very little room for ambiguity, and when this is the case, there is much less chance that costly litigation will be required.

Being open and upfront about your plans with your heirs is another means of reducing the drama at the time of your passing. Doing so allows your loved ones to focus on the healing process rather than on inheritance disputes, which have been known to rip families apart.

Safeguarding a Business

If you own a business, your estate planning needs are more complex, and your focus will naturally be on the smooth transfer of ownership. This helps to protect your business, reduce the risk that setbacks will interfere with operations, and avoid financial upsets that can prove crippling.

Without a plan in place, there is a much greater chance that your business could fail due to a lack of continuity or that it will need to be sold off for far less than it is worth as a result of not taking a proactive approach.

A seasoned estate planning lawyer has the legal focus and business insight to help you implement succession plans that support your business’s ongoing growth as well as your family members’ related inheritance rights.

If your goal is to pass your business to another generation, exacting estate planning is required. Because failing to keep a business you have poured your heart and soul into in your family is unlikely to be your wish, you should not skimp on the related estate plans.

Addressing the Matter of Incapacitation

Estate planning is not solely focused on how your estate will be distributed at the time of your death. Instead, it can also safeguard your financial interests and address any healthcare concerns – in the event that you are ever incapacitated and, therefore, unable to make financial decisions for yourself.

By executing power of attorney (POA) documents, you assign the authority to make primary decisions on your behalf – if you are ever either temporarily or permanently incapacitated and unable to do so for yourself.

If you do not have a healthcare POA and financial POA in place, it puts your family in a difficult position to navigate the challenging guardianship process in order to establish the legal authority necessary to manage your affairs.

Implementing advanced medical and financial directives also affords you the confidence that comes from knowing someone whom you trust to make important decisions for you will be at the helm. This can provide you and your loved ones with a sense of ease that would not be possible without estate planning.

Addressing the Potential Need for Long-term Health Care

If you ultimately require long-term healthcare, such as nursing home care, the overall cost can be astronomical, and it can seriously slash the inheritance you leave your loved ones. There are, however, estate planning tools that can help you protect assets, which include trusts and long-term care insurance. In some instances, assets can be protected while maintaining qualification for essential government assistance programs, which can prove invaluable.

In other words, the reach of estate planning goes beyond the distribution of your assets upon your death and should be considered in a much broader context. In fact, estate planning is an investment in your own and in your family members’ futures, and it can more than pay for itself over the course of time.

The Savings Associated with Estate Planning

Solid estate planning comes with demonstrable financial advantages that are important to consider.

Minimizing Estate Taxes

The State of Texas does not impose an estate tax or an inheritance tax, and these taxes only come into play at the federal level for large estates, which in 2025 refers to estates that come in with a value of at least $13,990,000.

For very large estates, the matter of federal taxes is considerable, and it is also important to keep in mind that federal estate taxation can change, which means smaller estates could face more serious tax consequences in the future.

There are powerful estate planning tools that can be used to help minimize or even bypass tax exposure, and a savvy estate planning attorney can help you with that.

Leaving your estate to chance, which translates to the state’s laws of inheritance and to federal taxation, can seriously diminish the size of your estate and the amount you leave your nearest and dearest.

Considering the Cost of Litigation

If your will is contested, it can mean costly litigation. Not only do legal expenses add up quickly, but there is the added turmoil of family members fighting over your estate, which can turn up the heat on the matter and lead to even greater expenses.

When grieving becomes commingled with a battle over money, it can make an already difficult situation far more so, and the related costs can skyrocket. Putting some careful thought into your estate plans can make a big difference in how smoothly your assets will flow to your chosen heirs, which helps clearly signal how much you care.

Decreasing Your Need for Probate

While there are generally some administrative matters that must be resolved in probate, there is a wide range of estate planning tools that can help you keep the majority of your assets out of probate.

This can not only save a significant amount of money but also streamline the process of passing your assets and properties to your heirs, which can help make a very difficult time less so.

It should be noted that for the provisions included in your will to be implemented, your will must be probated. Further, having a will serves as a form of insurance that everyone should consider. To begin, your will can address the matter of guardianship for any minor children.

Further, your will can speak to the distribution of any assets that are not addressed in another estate planning tool, such as assets that you may have accumulated since you last updated your will.

The only exception when it comes to the need for probating a will is when the estate is valued at $75,000 or less, which does not include the value of the decedent’s homestead. When this is the case, a small estate affidavit suffices, and formal probate is avoided.

In summary, while reducing the degree to which probate will play a role in your estate’s succession is an excellent plan, your will is unlikely to bypass probate entirely.

Protecting Yourself

If you were to become temporarily or permanently incapacitated, such as due to an illness or accident, the matter of your ongoing healthcare and financial decisions remains of critical importance.

Not being able to make decisions for yourself is a serious concern, but knowing that you have someone whom you trust implicitly to do the job for you can afford considerable peace of mind.

Estate planning allows you to protect your own best interests in relation to healthcare and medical needs during your lifetime, which adds an additional layer of security – the advantages of which can be difficult to overstate.

For help preparing powers of attorney or medical directives, contact a trusted Round Rock estate planning attorney today.

Helping to Ensure that Your Will Won’t Be Contested

When a will is contested, it translates to considerable expense that comes right off the top of your estate. There are, however, steps you can take to help ensure that your will won’t ultimately be contested.

Use Clear and Accurate Language

To begin, you want to create a will that is written in clear language that accurately reflects your wishes. The less room there is for ambiguity, the better. Working closely with a skilled estate planning lawyer helps to ensure that your wishes will be upheld, with very little risk of litigation being involved.

Ensure Proper Execution

To be legally binding in Texas, your will must check each of the following boxes:

• It must be in writing, which means that it can be handwritten, typed, or printed. If it is handwritten, however, it must be entirely in your hand and must be signed by you, but it is not subject to the witness requirements that typed or printed wills are.

• You must sign your will in the presence of two witnesses who are also required to sign it. Having witnesses who are disinterested parties, which means that they are not named beneficiaries, is advised.

• You can also attach a self-proving affidavit, which simplifies the matter of verifying your will during probate and requires the signatures of two disinterested witnesses and notarization.

Include a No-Contest Clause

You also have the right to include a no-contest clause in your will, which can deter those who may otherwise be inspired to contest the legal document. You should know, however, that for a no-contest clause to be effective, the person doing the contesting must be a named beneficiary of your will – otherwise, it will have no legal impact.

If a beneficiary does choose to contest a will that includes a no-contest clause and they lose their case, they forfeit the inheritance they would have otherwise received. If you have concerns about someone who may lay claim to inheritance in relation to your estate, a no-contest clause could be a good option.

It’s Time to Consult with an Experienced Round Rock Estate Planning Lawyer

At the Law Office of Brett H. Pritchard, our clients benefit from a dedicated legal team that includes attorneys with extensive experience in Texas probate and estate planning. Brett Pritchard brings decades of legal leadership and trusted client service to every case, ensuring you receive attentive and knowledgeable support.