Kendall and Bexar County Estate Planning
Texas Estate Planning Blog
Shawn McCammon is the founder and managing shareholder of McCammon Law. Shawn has been practicing for over 20 years, starting off in litigation before working in-house as a corporate attorney, and finally opening his own firm in 2009.
Leaving a meaningful legacy doesn't always require wealth. Through thoughtful planning and intentional actions, you can leave your family something far greater than material riches. Forbes' article, "10 Estate Planning Myths You Shouldn’t Believe," explains that a common misconception about estate planning is that only wealthy people need to use it. Estate planning may have been once considered something only rich people needed. However, that's changed. Every adult needs to plan for when something happens to a family's breadwinner(s). The primary part of estate planning is naming heirs for your assets. In addition, things like preserving family heirlooms, creating family traditions memorialized with pictures, and recording your own and your family’s history, do not require money. At McCammon Law in Boerne, we focus exclusively on Wills & Trusts that help individuals secure a lasting legacy for their loved ones, as well as document their values and traditions. Below are seven impactful ways you can leave your family a legacy even if you're not wealthy.
Often, people who do not have a lot of money think that it is unnecessary to have an estate plan. After all, what is an estate plan without an estate? Yet estate planning is more than making sure a person’s wealth passes to the next generation. Through tools like wills and trusts, you can ensure that sentimental items and personal preferences—like burial arrangements—are respected. Family relationships have been irreparably damaged over the question of who gets the homemade Christmas tree ornaments, and children have agonized over how much to spend on their parent’s casket and other burial arrangements, not wanting to skimp on something they feel represents their love for their parent.
Your family can have peace of mind knowing with certainty that they are carrying out your wishes if they have a crystal clear understanding of what those wishes are. By working with a Boerne Wills & Trusts attorney, you can outline your goals clearly and leave your loved ones with peace of mind.
Although a number of things are more important than money, there is nothing wrong with preserving the money you have. You can leave more money in your family’s hands by avoiding unnecessary estate administration expenses such as probate. If you own real property, such as a home, you can avoid probate by creating a trust and transferring your property into the trust. If you have bank accounts, retirement accounts, or life insurance policies, you can avoid probate by using payable-on-death designations, transfer-on-death registrations, and beneficiary designations or by transferring the accounts into a trust.
Spending a small amount of effort early on by using estate planning tools like Wills & Trusts can save your loved ones a lot in later expenses and delays. If you're in Boerne or the surrounding areas, McCammon Law can guide you through the best options tailored to your circumstances.
Aside from the time it takes, writing personal letters to your family members costs little or nothing, but such letters can be far more valuable than vast amounts of money. Personal letters could share stories, give encouragement, provide advice, or express emotions. For example, a grandparent could write a letter to a grandchild commemorating a special occasion in that grandchild’s life (such as high school graduation) with the grandparent’s memories of the grandchild and expressions of love and admiration for the grandchild’s talents and qualities. This type of personal letter will be a family treasure that will endure long after any possession that money can buy.
Family traditions are a wonderful and lasting legacy. What makes them even more wonderful is that they can be completely tailored to your family’s interests and priorities in the Boerne area, they can be started at any time, and they do not have to cost a lot of money. Many traditions revolve around holidays, such as picnics at the lake on the Fourth of July or making Great-grandma’s sugar cookies every Valentine’s Day. Maybe your family has traditions around the Super Bowl or Friday night movies.
Even if you do not currently have many family traditions, it is not too late to start. Your own imagination is the only limit on creating a fun tradition that your family looks forward to and repeats regularly.
It is important not to underestimate the value of family heirlooms. Although heirlooms may or may not be worth much money, their sentimental value can be enormous. From Grandma’s wedding dress to the trunk that Great-great-grandpa used to haul his possessions across the sea when he emigrated from Italy to the United States, such heirlooms are a treasured part of a family’s legacy.
It is crucial that the story of the item’s significance also be preserved so that an unsuspecting but well-meaning person does not throw the item out with the trash. Don’t forget to document the significance of each item so its story isn't lost over time. Our Wills & Trusts services in Boerne ensure that cherished heirlooms are passed on to the right people, preserving their value and meaning for generations.
The adage says that a picture is worth a thousand words, and sometimes, a picture is worth more than thousands of dollars. You can create a family history with pictures by snapping photos of everyday family activities in Boerne as well as big family events.
Also, be sure to go through old family photos, because you may be the keeper of some of the only surviving photos of certain ancestors. Helping younger generations understand who their grandparents and great-grandparents were with pictures that can put faces to names is a valuable legacy to leave.
A person can derive identity and much strength from knowing where they came from, what struggles and challenges their ancestors went through, and how they prevailed. Numerous websites are available to help you trace your family history back through hundreds of years. But a family history can also start with your own story, which you can preserve by writing down or making a voice recording of your personal experiences.
Children, grandchildren, and subsequent generations will consider it a great treasure to learn your thoughts about where and how you grew up, the challenges you faced, and how you persevered through them. You can also write down your memories of your parents and grandparents if they did not write their own personal histories. Your Boerne Wills & Trusts attorney can help incorporate the preservation of your family’s story into your estate plan.
Leaving a legacy doesn’t require wealth. By making a plan, avoiding unnecessary expenses, and sharing personal letters, traditions, heirlooms, photos, and history, you can ensure your family feels loved and connected long after you’re gone.
Ready to create your legacy? Request a consultation with McCammon Law in Boerne today. Let us help you secure your family’s future with compassionate Wills & Trusts guidance in Boerne and surrounding areas.
Boerne/San Antonio Office
138 Old San Antonio Rd.
Suite 504
Boerne, TX 78006
