Are you looking for an estate planning lawyer in Austin, TX?
At Gray Becker, P.C., we prepare wills, trusts, and related documents for Austin clients who want their property and their wishes handled as they intend.
If you are considering how your property should pass to the people you choose, the documents you sign now will determine what happens later. Our Austin, TX estate planning lawyer can explain which instruments fit your circumstances and prepare a plan that reflects your intentions.
Estate planning is a practice area the attorneys at Gray Becker, P.C. have handled for Central Texas families and business owners often in our four decades of practice. Our work ranges from a straightforward will to a plan involving trusts, business interests, and property in more than one place. Schedule a consultation to discuss what you own and how you would like it handled.
Estate Planning Lawyer Austin, TX
Estate planning is the process of arranging, in writing and in advance, how your property will be managed and distributed and who will make decisions if you cannot. A plan typically combines several instruments, each addressing a different circumstance. It accounts for both what happens at death and what happens during incapacity. An estate planning attorney reviews your assets, family situation, and objectives, then drafts documents that carry legal effect and are prepared to withstand a challenge.
Travis County contains more than 682,000 housing units, with a median owner-occupied home valued above $500,000, according to the U.S. Census Bureau. Real property of that value passes through an estate. Without direction it is distributed according to default rules rather than personal preference. Matters requiring court involvement are heard in the Travis County probate courts.
Types of Estate Planning Services We Handle in Austin
An estate plan is assembled from documents that serve distinct purposes. Which ones you need depends on what you own, who depends on you, and how much control you want over the timing of distributions. Our firm prepares and administers the following for clients throughout Austin.
- Wills. A will directs how your property is distributed and names the person who will carry out those instructions. We draft wills that reflect your wishes clearly enough to reduce the risk of later dispute, including provisions naming a guardian for minor children.
- Trusts. A trust holds property for the benefit of others under terms you establish, and it can operate during your lifetime or after your death. We prepare revocable and irrevocable trusts, including arrangements that keep assets outside the probate process.
- Powers of attorney. These documents authorize someone you trust to act on your behalf in financial and legal matters. We prepare instruments that grant the authority you intend, no more and no less.
- Advance directives. Medical powers of attorney and directives to physicians record your health care wishes and name who may speak for you. We prepare these documents so that decisions rest with the person you select.
- Probate and estate administration. After a death, the estate must be administered and the property transferred to the beneficiaries. We represent executors and family members through administration in the Travis County probate courts.
- Guardianship. When an adult or a minor cannot manage their own affairs, a court may appoint someone to do so. We handle guardianship matters and the planning that can reduce the need for them.
- Business succession planning. An owner’s interest in a company requires its own treatment within an estate plan. We address how a business interest is held, valued, and transferred, drawing on the firm’s background in business law.
Why Choose Gray Becker, P.C. as My Estate Planning Lawyer in Austin, TX?
Decades of Experience Behind Every Plan
Most estate plans are never contested. The ones that are get decided in a courtroom, which is why our firm drafts with that possibility in mind. Richard E. Gray III, a founder of the firm, has been recognized by Best Lawyers in real estate litigation and in family law, and has spent decades handling the property and family disputes that expose weaknesses in a poorly drafted plan. He is a graduate of Washington and Lee University. That experience shapes how each document is written, because common estate planning mistakes are far easier to prevent at the drafting stage than to repair afterward.
Planning That Accounts for Business and Property Interests
Many Austin clients hold assets that a standard form cannot address, including closely held companies, rental property, and interests acquired over a long marriage. Douglas M. Becker, also a founder, practices in business law and has been recognized by Best Lawyers in commercial litigation, with an A.B. from Harvard University. Our practice applies that background to how a business interest is titled, valued, and transferred within a plan. For owners, protecting a business is frequently the central objective. Our firm’s work in business law supports the succession side of estate planning.
What Is Important to Understand About Estate Planning?
Key Estate Planning Documents and What They Do
A complete plan uses several documents, each with a defined function. Deciding among them is the substance of the planning conversation. Taking control of your estate planning starts with understanding what each instrument accomplishes.
- Will. Directs the distribution of property and names an executor and, where needed, a guardian for minor children.
- Revocable living trust. Holds property during your lifetime and passes it to beneficiaries without probate, an arrangement more families are choosing.
- Pour-over will. Captures assets never transferred into a trust during your lifetime and directs them into it at death.
- Durable power of attorney. Authorizes another person to manage financial and legal affairs if you become unable to do so.
- Medical power of attorney and directive. Names a health care decision maker and records your treatment preferences.
What Are Important Aspects of an Estate Plan?
A plan is only as good as its accuracy on the day it is needed. Assets change, families change, and a document signed a decade ago may no longer do what its author intended. Beneficiary designations on accounts and policies pass outside a will entirely, which makes coordination between the two essential. Even digital assets now require specific direction.
- An accurate, current inventory of assets and how each is titled.
- Beneficiary designations that agree with the rest of the plan.
- Named individuals who remain willing and able to serve.
- Review after a marriage, divorce, birth, death, or significant purchase.
What Is the Estate Planning Process Timeline?
Most estate plans are completed in a matter of weeks rather than months, though a plan involving business interests or trusts takes longer. The process generally follows these stages.
- An initial consultation covering your assets, family, and objectives.
- A recommendation identifying which documents your circumstances call for.
- Preparation of drafts for your review and revision.
- Execution of the documents with the required formalities.
- Transfer of assets into a trust, where the plan calls for one.
What Should You Bring to Your Estate Planning Consultation?
Assembling a few records in advance makes the first meeting far more productive. A list of what your attorney needs can help you prepare.
- A list of your assets, accounts, and any business interests.
- Deeds, titles, and records for real property.
- Current beneficiary designations for retirement accounts and policies.
- Any existing will, trust, or prenuptial agreement.
- The names of people you would consider as executor, trustee, or guardian.
During the consultation, we review what you own, discuss how you want it handled, and recommend the documents that fit. You will leave understanding what your plan should include and what preparing it will involve.
Travis County Probate Courts and Local Resources
Estate matters requiring court involvement in Austin are heard in the Travis County probate courts, which admit wills to probate, determine heirs when a person dies without a will, and establish guardianships. The Travis County Clerk’s Probate Division will also hold an original will for safekeeping during your lifetime, and it receives wills that must be filed after a death.
Reach Out to Gray Becker, P.C. to Schedule a Consultation
If you have been meaning to put a plan in place, or your current documents no longer match your circumstances, the next step is a conversation about what you own and what you want to happen. Our Austin estate planning lawyer can identify the instruments your situation calls for and prepare them properly. Gray Becker, P.C. serves families and business owners throughout Austin and Central Texas. Contact us to schedule a consultation, and we will discuss your assets, your family, and your objectives.