Integrated Estate Planning

integrated estate planningYour College Station estate planning attorney understands that often a client’s main concern when planning disposition of an estate is making sure that assets are available to heirs upon his passing. However, an optimal estate plan takes into consideration much more than this.

A College Station Estate Planning Attorney on Moving beyond Conventional Planning

Traditional estate planning took into account such matters as mitigation of tax liability, avoidance of probate, and transition of assets into the hands of the intended beneficiaries. In essence, the focus was on the estate following the death of the grantor. However, this is a shortsighted approach. What provision, after all, has been thereby made for the estate and grantor’s needs prior to his death?

Moving beyond such a conventional and limited approach is a focus of many of the better attorneys today. This change in mindset among estate planners is quite recent, actually; more and more, though, attorneys realize that an integrated approach will be more beneficial for clients.

A College Station Estate Planning Attorney Explains Integrated Estate Plans

Integrated estate planning, or IEP, goes beyond trusts, wills, and tax planning to management of assets today, and management of the estate should the grantor become incapacitated. Among the matters an estate planning attorney works with individuals on when developing an IEP are:

  • Who is best suited manage the person’s affairs. This takes into account the competencies of potential trustees, and their trustworthiness in managing the estate effectively and wisely.
  • How assets may be used for the benefit of the grantor. Such matters as developing a trust to “hide” assets to qualify for Medicaid, and do not resuscitate orders are important factors to consider.
  • How best to deal with business and other assets. This is relevant for an individual of any age, since an accident or illness can incapacitate even a young person. For a client who is more advanced in age, an estate planning attorney understands that the importance of a plan for keeping a business in operation or managing assets wisely is all the greater.

 Contact a College Station Estate Planning Attorney for Further Information

If you have not already done so, it is very important that you have a strong integrated estate plan in place. A College Station estate planning attorney at Peterson Law Group will provide you with the highest standard of legal assistance. Call to arrange a consultation today at 979-703-7014.

About Chris Peterson

Chris Peterson is an attorney and the owner and founder of Peterson Law Group, a Texas law firm with offices in Bryan/College Station and Kingwood. He mainly practices in the areas of Estate Planning and Business Planning. Chris is also a Certified Estate Planner. Besides his law practice, Chris is a serial entrepreneur and community volunteer. He is known for his cutting edge law practice that utilizes technology to deliver efficient, excellent work.