Austin Probate Attorneys

Estate Planning – Not Just for the Rich

For a long time, the general public held a misconception that estate planning – making wills, establishing trusts, avoiding estate taxes – was something with which only the exceptionally wealthy had to concern themselves. The truth is quite different. Regardless of net worth, assets, or social standing, all individuals can draw significant benefits from estate planning, as well as provide security and closure to friends and loved ones they leave behind after their death.

The Benefits of Estate Planning

While it is true that only relatively large estates are subject to estate taxes, all estates are subject to probate – that is, the process by which the assets of a decedent are distributed. Although there are rules in place for dealing with property not bequeathed by a valid will, these rules may not necessarily be in line with the wishes of the decedent and cannot take into account individual situations. For this reason, all people should establish a will to ensure that their assets – however much they are worth – are inherited by the beneficiaries that they want, and not to a default recipient designated by law.

Another misconception held by many is that trusts are only for the rich. A trust is actually a useful tool for anyone interested in helping their beneficiaries avoid the time-consuming and often expensive probate process. In short, by placing assets “in trust,” an individual can make it immune to probate without losing any control over them.

An Austin probate lawyer from the Slater & Kennon law firm can help you learn more about estate planning and how you can protect the future of your loved ones. Call 512-472-2431 to speak with one today.


Centrally located in the Arboretum area of north Austin, the Slater & Kennon law firm represents clients in Travis County, Bastrop County, Burnet County, Williamson County, and Hays County, including the cities of Austin, San Marcos, Bastrop, Burnet, and Georgetown.