281-531-5800

1-800-229-3002

consult@vacek.com

2000 S. Dairy Ashford Rd., Suite 520
Houston, Texas 77077

Becoming a Client of Vacek & Thain, PLLC


Understanding the Three P’s of Estate Planning

#1 – People

Who are the Important People in your life? Beginning with yourself, they also likely include your loved ones: your spouse if you are married, children and grandchildren if you have any, perhaps your parents, siblings or other relatives. Beyond these, however, "Important People" also could include charities, special causes, colleges or universities, or churches to which you are committed. For some, "Important People" could even include pets. Spend some time thinking about the impact others have had on your life. Make a list and jot notes if you like. This is where the planning process truly begins.

#2 – Property

By Property we mean your assets in general. Make a list of the assets you own or control. At this point, you do not need to identify insurance policy numbers and exact dollar values. Rather think through your assets in terms of their nature (cash, stocks, bonds, real estate, etc.); their value in thousands of dollars; and your ownership interest: Do you own assets in your name only, in joint tenancy with someone else, or through a trust agreement or some other arrangement? Be sure to include often-overlooked assets like life insurance (the death benefit, not the cash value), business interests, and any inheritance you may expect to receive.

#3 – Plans

After identifying the Important People in your life and your Property, the next step is to consider the plans you would make for those people (including yourself) and that Property in the event of your own incapacity or death.

Who would you name to make decisions for you if you could no longer do so yourself? Would the same person handle your finances and your personal and health care decisions? Who would care for your minor children? How would you distribute your assets to your heirs? Would you prefer to spare your heirs the potential cost and hassles of the probate process? Would you like to minimize the impact of estate taxes ... or maximize the impact of a charitable bequest? Is there someone in your family with special needs for whom you would like to provide? Is there someone who perhaps should not receive a great deal of (or any) money without some outside oversight?

These are just a few of the issues to consider when approaching the planning process. They are much more important than the "treasure hunt" for legal documents at this stage.

When You Are Ready

When you are ready to schedule a consultation, please call or complete the Request a Complimentary Consultation form and we will give you a call to schedule.

Attend A Seminar

We invite you to attend our FREE estate planning seminar. The focus of the seminar is to educate you, our neighbors, about some of the various estate planning tools available to you. Not only will you have a free interactive presentation from one of our lawyers, but there will be a question and answer period with a lawyer to help clarify any thoughts you might have during the presentation.

Register For A Seminar To Learn More

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Testimonials

  • Well organized, informative, useful and practical seminar presented in an interesting and even entertaining manner!
    L.A.H., Baytown, TX
  • Sure wish I’d had this seminar before I had my trust created. Excellent presentation and Q & A.
    J.B., Baytown, TX
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Vacek & Thain, PLLC serves Texas families with their estate planning, estate tax planning, charitable planning, revocable living trusts, irrevocable trusts, Heritage trusts, wills, power of attorney, family limited partnerships, advanced asset protection planning, declaration of guardian for minor children, healthcare documents, will based estate planning and the hazards of will planning, special needs estate planning, estate administration and trust administration. Contact Vacek & Thain, PLLC if you or your loved ones reside in the Houston, Texas area, including: Katy, Cinco Ranch, Mission Bend, Pecan Grove, Richmond, Rosenberg, Greatwood, Sugar Land, Meadows Place, Bellaire, Fresno, Pearland, South Houston, Spring Valley Village, Pasadena, Clear Lake, Friendswood, and more!

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