Protect 3 Areas of Your Estate Value with a Probate Attorney in McAllen

Many aspire to leave a nest egg or savings for their loved ones, but only a few account for probate court. It’s why our probate attorney in McAllen share the knowledge of comprising a complete estate plan with our clients.

By doing so, they can protect estate assets, minimize tax liabilities and maximize the estate’s value. Scroll down to learn more about how probate lawyers can achieve these financial advantages by:

  • Recording estate assets
  • Identifying tax-saving opportunities
  • Navigating complex inheritance laws

Recording Estate Assets

One of the primary roles of a probate attorney is to ensure all of your assets are included in your estate. This may involve:

  • Ensuring proper documentation.
  • Safeguarding against potential claims or disputes. 
  • Conducting a thorough analysis of the estate’s assets and liabilities.

Probate attorneys have the expertise to identify vulnerable areas and implement strategies to protect the estate from unnecessary loss or depletion. For example, they may assist in setting up trusts, transferring assets to beneficiaries, or establishing safeguards against creditors or predators seeking to seize the estate’s assets.

Minimizing Tax Liabilities

Probate attorneys have expertise in the intricacies of inheritance and estate tax laws, enabling them to:

  • Reduce tax burdens and increase the estate’s value. 
  • Navigate federal estate tax laws, which can significantly impact the estate’s worth, in states such as Texas that lack a state estate tax. 
  • Probate attorneys can employ various tax-saving strategies, including charitable trusts, gifting assets, and marital deduction provisions, to lower the estate’s taxable value. 

Proper Asset Valuation

The goal is to ensure your wishes are adhered to in your estate plan, even in the chance of probate court. Our probate attorneys in McAllen understand that an accurate valuation of estate assets is critical for determining tax liabilities and fairly distributing assets to beneficiaries.

  • We work with knowledgeable appraisers and financial experts to value each asset precisely.
  • Note unique considerations such as market fluctuations and specialized valuation methods needed. 
  • Avoid undervaluing the estate, which may lead to tax disputes or being overvalued, resulting in excessive tax liabilities. 

Navigating Complex Inheritance Laws in Texas

Why hire our probate attorneys in McAllen? We possess specialized knowledge of the state’s inheritance laws and regulations, which allows us to:

  • Ensure that each estate is distributed fairly and accurately per the deceased’s wishes. 
  • Leverage our expertise to minimize potential disputes or legal challenges that may arise during the probate process. 
  • Act as a reliable source of assistance for families navigating the complex and often emotionally charged terrain of the probate process.
  • Help protect assets, minimize tax liabilities, and navigate the intricate Texas inheritance laws.
  • Offer invaluable guidance on complex issues such as intestate succession, community property laws, and the different exemptions or allowances available to surviving spouses and children.

Contact our Probate Attorney in McAllen

Whether you need help with asset valuation, inheritance laws, or any other legal issue related to probate, at Barrera Sanchez and Associates, we have the knowledge, experience, and dedication to help you achieve the best possible outcome. Contact us today to get started

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