• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Home
  • Our Firm
    • About Our Firm
    • Attorney and Staff Profiles
    • Speaker Connection
  • Services
    • Asset Protection & Business Planning
    • Elder Law & Medicaid Services
    • Estate Planning Services
    • Financial Planning Assistance
    • Incapacity Planning
    • IRA & Retirement Planning
    • Legacy Planning
    • LGBTQ Estate Planning
    • Pet Planning
    • Probate
    • SECURE Act
    • Special Needs Planning
    • Wills & Trusts
  • Elder Law
    • Coping with Alzheimer’s
    • Guardianship and Conservatorship
    • Medicaid Crisis Planning
    • Medicaid Planning
  • Seminars
  • Webinars
  • Resources
    • Communities We Serve
      • Keller, Texas
    • Elder Law Resources
      • Elder Law & Medicaid Definitions
      • Elder Law Reports
    • Estate Planning Resources
      • 3 Reasons to Create a Trust
      • Estate and Gift Tax Figures
      • Estate Planning Articles
      • Estate Planning Definitions
      • Estate Planning Reports
        • Advanced Estate Planning
        • Basic Estate Planning
        • Estate Planning for Niches
        • Trust Administration
      • Estate Planning Worksheet
      • Is Your Estate Plan Outdated?
    • Free Consultation
    • Free Estate Planning Seminars
    • Frequently Asked Questions
      • Estate Planning
      • Trust Administration & Probate
    • Newsletters
    • Our Client Care Program
    • Pre Consultation Form
    • Professional Resources
      • Educational Alerts
  • Reviews
    • Our Reviews
    • Review Us
  • Contact Us
  • Blog

McGee Law Firm

Your Resource for Estate Planning, Elder Law and Medicaid / VA Planning

Call Us Today 817-899-3286
  • Facebook
  • Instagram
  • LinkedIn
  • YouTube
Attend a Free Seminar
Home / Estate Planning / Selecting an Estate Planning Attorney – Wisely

Selecting an Estate Planning Attorney – Wisely

April 8, 2021 by Brandon McGee

Compliments of the McGee Law Firm, Attorney Brandon McGee

When you plan your estate, you are putting together your road map to your legacy. Your estate plan determines who will be entitled to your assets, how they can use them, and the protections which they and the assets you leave them may have from creditors, divorcing spouses, etc. The attorney whom you select to assist you in creating that plan is integral to its success. That is why you need to choose wisely.

When Bill and Mary were planning their estates, they went to an attorney who was a family friend, had a general practice and dabbled in many areas of the law. Their attorney, Frank, was very nice and even gave them a discount because of their friendship. Frank drafted Wills for them that appeared to work on the surface. Bill wanted one-half of his assets to go to Mary and one-half of his assets to go to his children from his first marriage. His Will seemed to do this. However, when Bill died, it did not work out that way. Bill had $750,000 in assets at his death. His one-half interest in the house he owned with Mary was worth $250,000. His one-half interest in the ranch he owned with his brother, Sam, was worth $300,000. Finally, his IRA was worth $200,000. Unfortunately, but unbeknownst to Bill and Mary, estate planning does not just entail writing down your wishes in a Will, like Frank did for them. It takes knowledge and experience to create an effective estate.

When Bill died, they discovered that the house was held in joint tenancy, so his $250,000 interest in the $500,000 house passed to Mary automatically at his death. It was not controlled by his Will at all. Likewise, the ranch was held in joint tenancy with Sam. Bill’s $300,000 interest in the ranch automatically passed to Sam, even though the Will provided otherwise. Finally, the IRA had a beneficiary designation naming Bill’s mother. After Bill’s first marriage ended, he had changed the designation to his mother. He forgot to update the designation when he remarried. Frank, though meaning well, did not think to ask about the beneficiary designations because he did not focus in estate planning and did not have the experience to know better.

So, of his $750,000 in assets, Bill wanted one-half, or $375,000, to go to his kids from his first marriage and $375,000 to Mary. Instead, Mary only got $250,000 and his kids from his first marriage got nothing—even though that’s not what his Will provided. An experienced attorney would have recommended that Bill change the house and ranch to tenancy-in-common property and would have made sure the beneficiary designation was updated. That way, Bill would have provided for his family as he had wanted.

Don’t make the same mistake that Bill and Mary did. Go to a qualified estate planning attorney who focuses his or her practice in estate planning. Make sure they get continuing legal education to stay updated on the latest developments in the field of estate planning. Contact our knowledgeable Fort Worth Estate Planning Attorney.

Compliments of the McGee Law Firm, Attorney Brandon McGee an established member of the prestigious American Academy of Estate Planning Attorneys, as well as the National Academy of Elder Law Attorneys 


Written By: The American Academy of Estate Planning Attorneys

  • Author
  • Recent Posts
Brandon McGee
Brandon McGee
Brandon McGee enjoys a successful law practice focusing on estate planning, elder law, Medicaid preplanning and crisis planning, and probate. Brandon and his team combine legal skills with compassion and understanding to develop estate plans that are personalized to the needs of each of their clients.
Brandon McGee
Latest posts by Brandon McGee (see all)
  • Planning for the Unthinkable - March 30, 2023
  • Leaving a Legacy - March 29, 2023
  • The Not-So Transparent Corporate Transparency Act - March 28, 2023

Filed Under: Estate Planning

About Brandon McGee

Brandon McGee enjoys a successful law practice focusing on estate planning, elder law, Medicaid preplanning and crisis planning, and probate. Brandon and his team combine legal skills with compassion and understanding to develop estate plans that are personalized to the needs of each of their clients.

Primary Sidebar

Blog Subscription

Sign up for our estate planning blog to receive all of our latest news and updates!

  • This field is for validation purposes and should be left unchanged.

Follow us

  • Facebook
  • Instagram
  • LinkedIn
  • YouTube

TESTIMONIALS

Client Review
May 25, 2021
    

Brandon McGee is knowledgeable, experienced and professional regarding Estate Planning. The entire process of multiple meetings to establish our input, draft and sign documents and fund the Trust were well organized and clearly explained. At completion, we were presented with a very well organized binder with the documents (both paper and electronic) and lists for future action.  In short, we find Brandon McGee and his staff to be competent, professional and friendly. ~ Brian C.

default image
Brian C.

Fort Worth Address

Fort Worth
810 W. 10th Street
Fort Worth, TX 76102
United States (US)
Phone: (817) 899-3286
See Larger mapGet Directions

Fort Worth Map

map

Southlake Address

Southlake
101 River Oaks Dr., Ste. 110
Southlake, Texas 76092
United States (US)
Phone: (817) 899-3286
See Larger mapGet Directions

Footer

  • Advantages of Working With our Firm
  • About the American Academy
  • Disclaimer
  • Sitemap
  • Contact Us

Connect to Us

  • Facebook
  • Instagram
  • LinkedIn
  • YouTube
footer logo

© 2023 McGee Law Firm
All Rights Reserved