How many seniors in Midland and the state as a whole are participating in estate planning?
If your aging loved one does not already have a last will and testament set up, things can get tricky for them. Important decisions are usually made by local and state courts when a person does not have a will in place. This is likely not what your aging loved one wants. A study by the IRS shows the number of individuals who have filed simple and complex trusts in the state of Texas:
As you can see, this does not account for every senior in the state, meaning there are many people who have not planned ahead for their future. You can help your elderly loved one avoid being another statistic by helping them to locate a Midland estate planning attorney who can assist them with all their needs, ranging from a living trust, a will, a power of attorney, or something else altogether.
What are the main reasons that Midland seniors don’t have a will or a living trust?
Setting up a last will and testament can be overwhelming for anyone, regardless of their age or what they plan on bequeathing to others. There are many reasons why your senior may not have talked with an estate planning lawyer in Midland. According to recent research, these are some of the most common reasons why individuals haven’t made plans for the future:
- I haven’t gotten around to it
- I don’t have enough assets to leave anyone
- It is too expensive to set up
- I don’t know how to get a will or living trust
The good news is that estate planning does not always involve money. In fact, there is no minimum one must have in order to set up an estate plan. You can help your older loved one avoid their estate going into probate and other problems that can occur if they do not plan ahead. Help them search for a Midland estate planning attorney who can sit down with them and give them peace of mind for the future.
How to choose the best estate planning attorney in Midland
Your aging loved one might already have an attorney. However, it is crucial to make sure the professional they are using is skilled in estate planning services in Midland. Start by creating a list of possible attorneys your senior wants to talk to. Help them by narrowing down who they would like to speak to, and make sure to get references. Find out how much experience the attorney has in working work estates and trusts to find out if they would be a good match for your senior’s situation.
You should ask how much they will charge for services, too. You want to ensure the attorney is affordable for your senior, knowing that the cost will increase the more complex their estate is. If you are looking for more information on how to select the right professional, check out our comprehensive guide to choosing an estate planning attorney.
Estate planning solutions for Midland seniors
It is impossible to predict what the future holds. that is why ensuring your older loved one’s final wishes will be carried out is so important. By finding a great Midland estate planning attorney, you can help them avoid potential issues. Check out our free listings above to get started with an attorney in the Midlands or Odessa area today.
