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Estate Planning

Lipzen Law estate planning includes determining how an individual’s assets will be preserved, managed, and distributed after death. Services also take into account the management of an individual’s properties and financial obligations if they become incapacitated.

Assets that could make up an individual’s estate include houses, cars, stocks, artwork, life insurance, pensions, and debt. Individuals have various reasons for planning – such as preserving family wealth, providing for a surviving spouse and children, funding children’s or grandchildren’s education, or leaving their legacy behind to a charitable cause.

What to Know

  • Planning tasks include making a will, setting up trusts and/or making charitable donations to limit estate taxes, naming an executor and beneficiaries, and setting up funeral arrangements.

  • A will is a legal document that provides instructions on how an individual’s property and custody of minor children, if any, should be handled after death.

  • Various strategies can be used to limit taxes – from creating trusts to making charitable donations.

Estate Planning

Michael Lipzen, Lipzen Law DFW and North Texas

Attorney Michael D. Lipzen

Founder Lipzen Law
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What is estate planning and why is it important?

Estate planning is the process of deciding how your assets will be managed and distributed during your lifetime and after your death. A proper estate plan helps protect your family, minimize taxes, avoid probate delays, and ensure your wishes are legally honored.

Do I need an estate plan if I don’t have many assets?

Yes. Estate planning is not just for the wealthy. Even modest estates benefit from having a will, powers of attorney, and healthcare directives in place to protect loved ones and avoid court involvement if something unexpected happens.

What’s the difference between a will and a trust?

A will outlines how your assets are distributed after death and typically goes through probate. A trust can help manage assets during your lifetime and transfer them to beneficiaries while avoiding probate, offering more privacy and control.

When should I update my estate plan?

You should review your estate plan after major life events such as marriage, divorce, the birth of a child, buying property, or significant financial changes. Laws can also change, so periodic reviews help keep your plan current and effective.

Can an estate planning attorney help reduce taxes and avoid probate?

Yes. An experienced estate planning attorney can use legal strategies—such as trusts, beneficiary designations, and gifting—to reduce estate taxes, avoid probate, and ensure assets are passed on efficiently.

Michael Lipzen, Lipzen Law DFW and North Texas
Immigration Law, Personal Injury, Estate Planning

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