Tag : estate planning in southlake

Does Your Estate Plan Include these 5 Elements?

Estate planning can be a difficult, yet essential, part of your financial planning process. Estate planning alleviates the burden of guesswork for others in the events that you are deceased or no longer able to communicate yourself. At Metroplex Wealth, we specialize in estate planning in Southlake, Texas, and we visit with clients on a daily basis about the ins and outs of the estate planning process.


Whether you already have an estate plan in place – or are looking to update yours – be sure to include these 5 essential elements:


  1. Last Will & Testament

This is a big one and one that most people think about when they think about an estate plan. When you pass, your belongings go into probate, should you not have a Last Will & Testament in place. A will gives your family and loved ones security in knowing they are carrying out your wishes and also protects your assets from further taxation and fees.

2. Living Will

In medical situations, a Living Will & Healthcare Power of Attorney (which we’ll talk about in a second) are vital. Unlike a Last Will & Testament, a Living Will applies when you are still alive. This will is to be used if you are incapacitated, outlining what someone is to do if you need life support.

3. Healthcare Power of Attorney

In conjunction with a Living Will, a Healthcare Power of Attorney simply gives another individual the right to speak on your behalf, should you be unable to make your own healthcare decisions.

4. Financial Power of Attorney

When you are drawing up your will and doing estate planning in Southlake, it’s important to also consider who you would like to handle your financial business should you become unable to do that yourself. This person is called a Financial Power of Attorney, and without he or she, it is extremely difficult for someone else to make financial decisions on your behalf should you become incapacitated.

5. Trust

This is not essential for everyone creating an estate plan, but it is something worth discussing with your wealth manager and estate planning attorney.  A trust is a vehicle that can be setup to determine when and how your assets are allocated. This can be while you are living or after you have passed away. The goal is to manage funds and assets to be used in a certain way or at specific milestones in life. An estate planner can walk you through whether or not a trust makes sense for your estate plan.


Whether you need a new estate plan or are looking to revise an existing one, give us a call at Metroplex Wealth. We specialize in estate planning in Southlake, Texas and would love to discuss your needs and how we can best serve you.

5 Questions to Ask when Selecting an Estate Planning Firm

When it comes to estate plans, one size definitely does not fit all.


If you’re looking for estate planning near Dallas, we realize that your options are plentiful. Where do you start? While it can be overwhelming to select a firm for estate planning, Metroplex Wealth in Southlake, Texas offers the following questions to ask each firm before making a decision:


  1. Do You Do A Lot of Business with Clients in My Situation?

As we said earlier, there is no “one size fits all” solution for estate planning. Each client we work with at Metroplex Wealth has their own personal assets and situation that must be taken into account. Is your family blended? Is there a disabled child in your family? Are you a business owner? All of these things and more matter for tailoring a plan to you.


  1. Am I Comfortable with This Person?

An estate planner can have all the credentials in the world, but if you don’t feel comfortable with them, then they are the wrong fit for you. You will be sharing a lot of very personal information with this person, so be sure it’s someone you feel you can trust and have a strong rapport with.


  1. How Much of Your Firm is Dedicated to Estate Planning?

Asking this question gives you a good sense for how in-depth their knowledge and expertise of estate planning near Dallas is. As rules and regulations can change often, look for a firm that spends a great deal of their resources on estate planning  to ensure the best plan possible.


  1. What Is Your Protocol for Working with my Other Financial Advisors?

Estate planning doesn’t happen in a black hole. It happens with collaboration from wealth managers, attorneys, accountants, and more, and it’s important that your estate planner has a history of working well with these counterparts. At Metroplex Wealth, this is one of the things we specialize in! In fact, we have the unique advantage of having all of this under one roof! We share an office with Redding Law firm, ensuring that collaboration between estate plans, financial planning, retirement planning, and other wealth management is constantly happening. And if you want to talk to one of us about your wealth management approach, we’re all just one phone call away.


  1. What is your Fee Structure?

Fees and structures vary by estate planning firm, but it’s important to get an idea of cost before making a selection. Look for transparency and open dialogue so you know what to expect up front. Just be wary of making a decision solely based on cost, as lowest cost doesn’t always equal best value.


Metroplex Wealth is a wealth management firm in Southlake, Texas that specializes in estate planning near Dallas. Call us today for a consultation on how we can serve you.