What Is Estate Planning?

Estate planning involves the legal structures used to manage and transfer assets during life and after death. A well-designed estate plan addresses what happens to your property, who makes decisions on your behalf if you become incapacitated, and how your wishes are carried out with as little friction and expense as possible.

Thoughtful planning can reduce taxes, avoid unnecessary probate, and ensure assets are distributed according to your wishes. It can also protect dependents — including minor children or family members with special needs — and preserve family harmony by removing ambiguity from what can otherwise be an emotionally difficult process.

Common Estate Planning Documents

A complete estate plan typically includes several coordinated documents, each serving a specific purpose. The right combination depends on your assets, family situation, and goals.

• Last Will and Testament — directs the distribution of your assets and names a guardian for minor children
• Revocable Living Trust — holds and transfers assets outside of probate, providing privacy and administrative efficiency
• Irrevocable Trust — used for asset protection, tax planning, and long-term wealth transfer strategies
• Durable Power of Attorney — authorizes a trusted person to manage financial and legal matters if you are unable to do so
• Medical Power of Attorney — designates someone to make healthcare decisions on your behalf
• HIPAA Authorization — allows designated individuals to access your protected health information
• Advance Healthcare Directive — records your wishes regarding end-of-life medical treatment

Why Estate Planning Matters in Texas

Texas has its own probate rules and community property laws that affect how assets are classified, managed, and transferred. Understanding these rules is essential to designing a plan that works as intended.

Texas is one of a handful of community property states, meaning that property acquired during marriage is generally owned equally by both spouses. Without proper planning, the division and transfer of community property can become complicated — particularly for blended families or those with assets in multiple states.

Proper planning can simplify administration, reduce potential conflicts, and help ensure that your estate plan is effective under Texas law. For clients with assets in other states, we also coordinate planning across jurisdictions to address any state-specific requirements.

Estate Planning Services

Services Include

• Wills
• Revocable trusts
• Irrevocable trusts
• Gift planning
• Health care powers of attorney
• Financial powers of attorney
• Special needs planning

When You May Benefit from Estate Planning

You may benefit from estate planning if:

• You own a home or other significant assets
• You have minor children
• You want to reduce estate tax exposure
• You want to simplify inheritance for your family
• You have a blended family or complex family structure
• You have a family member with special needs
• Your estate plan has not been reviewed in more than three to five years

Our Approach

Our approach focuses on practical planning designed to endure over time. We take the time to understand each client’s family structure, financial picture, and long-term goals before recommending any particular structure. We coordinate with tax advisors, accountants, and other professionals when appropriate to ensure each estate plan aligns with the client’s broader financial picture. Estate planning also intersects closely with tax planning and, for clients with charitable goals, with philanthropic planning — and we approach each engagement with that integration in mind.

Why Clients Choose Olive Branch Counsel

• Focused estate and tax planning practice — we do not try to be everything to everyone
• Experience advising complex estates and multi-generational family structures
• Background advising ultra-high-net-worth families at Goldman Sachs’ Private Family Office
• NYU LL.M. in Taxation — rigorous technical foundation across estate and tax law
• Coordinated approach with CPAs, financial advisors, and other trusted professionals
• Serving clients in Plano, Frisco, Dallas, McKinney, and throughout North Texas

Geographic Service Area

Olive Branch Counsel advises estate planning clients throughout North Texas, including Plano, Frisco, Dallas, and McKinney. We also serve clients in New York and Oklahoma.

Frequently Asked Questions

Do I need a trust in Texas?

Many individuals benefit from a revocable living trust to simplify administration and avoid probate, although a will-based plan may be appropriate in certain cases. The right structure depends on the size and complexity of your estate, your family situation, and your goals. We help clients evaluate these options and choose the approach that best fits their circumstances.

How often should an estate plan be updated?

Estate plans should typically be reviewed every three to five years, or sooner after major life events such as marriage, divorce, the birth of a child, a significant change in assets, or the death of a named beneficiary or trustee. Tax law changes can also warrant a review of existing plans.

What is the difference between a will and a trust?

A will is a legal document that directs the distribution of your assets after death and must pass through probate. A revocable living trust holds assets during your lifetime and transfers them to beneficiaries at death without going through probate, offering greater privacy and often simpler administration. Both documents serve important but distinct roles, and many estate plans use both.

Does Texas have an estate tax?

Texas does not impose a state estate tax. However, estates above the federal exemption threshold may be subject to the federal estate tax. For high-net-worth individuals and families, proactive planning using trusts, gifting strategies, and other techniques can help reduce or defer federal estate tax liability.