Estate planning is an important contribution to the peace of mind of those in Texas and elsewhere who go through the process. People have a feeling of relief knowing that their loved ones will receive their assets unimpeded by intrusive rules or burdensome taxes. Estate planning goes hand-in-hand with long-term care planning, which is basically the setting up in advance of certain protections that will serve to preserve assets for your loved ones if you have to enter a nursing home or for long-term homecare.
In most cases, changes in tax laws have lessened the need to make tax planning the main focus of an estate plan. Other issues have more importance to most people. Regardless of tax planning, there are some basic rules to follow in the estate planning process, whether a person resides in Texas or another state.