Colleyville is one of Tarrant County’s highest-income communities, and estate plans here often need to address more than a simple will can handle — business interests, significant investment portfolios, multiple properties, and, in many families, a level of wealth that makes thoughtful tax and succession planning genuinely important. Hargrave Law, PC has helped North Texas families build estate plans since 1999, and Earl A. Hargrave meets with every client personally to design a plan around their actual financial picture rather than a generic template.
This page covers the estate planning and probate services we provide Colleyville clients, how Texas law and the Tarrant County probate court handle these matters, what the process looks like for more complex estates, and the questions we hear most often from families in this community.
Wills & Trusts
A will names your executor, directs how your property is distributed, names a guardian for minor children, and states your wishes for funeral arrangements. Texas requires a standard will to be in writing, signed by the person making it, and signed by two credible witnesses at least 14 years old who watched the testator sign or acknowledge it. For Colleyville estates involving significant assets, precision in the drafting matters even more than usual, since ambiguity in a will with substantial property at stake is far more likely to invite a dispute among beneficiaries.
A trust is often central to a Colleyville estate plan rather than an optional add-on. Trusts let a trustee manage assets under specific terms — distributing funds gradually instead of all at once, providing for a beneficiary who should not receive a large sum outright, holding a family business to preserve continuity of management, or removing assets from the probate process entirely. Revocable trusts preserve your ability to change or dissolve them during your lifetime, while irrevocable trusts offer stronger creditor protection and can serve specific tax planning goals, at the cost of flexibility once established. For higher-net-worth Colleyville families, layering multiple trust structures for different purposes — asset protection, tax planning, and beneficiary management — is common rather than exceptional.
A complete plan also typically includes a durable power of attorney and an advance healthcare directive, naming someone to manage your finances and make medical decisions if you become incapacitated. For business owners specifically, we also address business succession planning as part of the broader estate plan, ensuring the business can continue operating, or be transitioned smoothly, if something happens to you.
We recommend Colleyville clients review their full plan, including trust structures, on a more frequent basis than a typical estate plan, since asset values, business interests, and tax considerations tend to shift more significantly over time in higher-net-worth estates. A structure that made sense several years ago may no longer align with your current holdings, family situation, or the specific goals you have for what happens to your estate.
Probate
When a Colleyville resident passes away, their estate generally goes through the Tarrant County probate court before assets can be legally distributed. The executor files the will and an application for appointment; once appointed, they identify and inventory the estate’s assets, notify creditors and beneficiaries, pay valid debts and taxes, and distribute the remainder. Texas allows independent administration in most cases, letting the executor handle much of the process without separate court approval for each step — though estates with business interests, multiple properties, or complex investment holdings often require more time for accurate valuation regardless of the administration type.
When someone dies without a will, Texas intestacy law governs instead, and the court appoints an administrator to carry out similar duties following the state’s fixed distribution formula. For a Colleyville estate with a business or significant real estate holdings, dying intestate can create serious complications — a formula never designed with a family business or a complex investment portfolio in mind rarely produces a workable outcome for continuing that business or managing those assets.
Complex estates are more likely to face disputes. Will contests, disagreements over an executor’s handling of significant assets, and conflicts among beneficiaries over a business or valuable property can turn probate into contested litigation, and we represent Colleyville clients on both sides of these disputes.
Avoiding Probate
For many Colleyville families, minimizing or avoiding probate is a specific priority, both for privacy and because a public probate proceeding involving significant assets or a business interest can invite exactly the kind of dispute a well-structured plan is designed to prevent. A living trust allows assets titled in its name to pass to beneficiaries according to the trust terms without probate; a transfer-on-death deed lets real estate pass directly to a named beneficiary while you retain full control during your lifetime; beneficiary designations on retirement accounts and life insurance pass those assets directly outside of probate; and joint ownership with right of survivorship automatically transfers property to a surviving co-owner.
For business owners, a living trust or a properly structured buy-sell agreement paired with the estate plan can be essential to keeping a business operating smoothly through a transition rather than leaving continuity uncertain during probate. Even with a comprehensive trust-based plan, we still recommend a “pour-over” will to catch any assets left outside the trust, so nothing defaults to Texas intestacy law by oversight.
Asset Protection
Asset protection planning uses legal strategies, established proactively and well before any claim arises, to help shield assets from future creditor claims — a particularly relevant consideration for Colleyville business owners, executives, and professionals in liability-exposed fields. This is fundamentally different from moving assets after a lawsuit or claim already exists, which can be challenged and unwound as fraudulent. Effective protection has to be built into your planning years in advance, not assembled after a problem has already surfaced.
For Colleyville clients, this commonly involves structuring business ownership to separate personal and business liability, using specific trust structures designed for creditor protection, and understanding Texas’s existing protections, including its strong homestead exemption, which shields a primary residence from most creditor claims regardless of value, subject to specific exceptions. Given the higher asset values typical in Colleyville estates, we take a more comprehensive approach to evaluating actual risk exposure — business liability, professional liability, and general wealth preservation — before recommending a tailored combination of strategies.
Retirement accounts, certain insurance products, and specific trust structures each carry different levels of protection under Texas and federal law, and a genuinely effective asset protection plan usually layers several of these tools together rather than relying on any single strategy. We walk through which protections you already have, which gaps remain, and which additional planning actually moves the needle for your specific situation.
Common Misconceptions About Estate Planning
A frequent misconception among Colleyville clients is that a well-drafted will alone is sufficient for a higher-value estate. In practice, a will alone does not avoid probate, does not provide the ongoing asset management a trust can offer, and does not address business succession — all issues that matter more, not less, as the estate grows in complexity. Another misconception is that estate planning is a one-time task; in reality, a plan built around specific asset values or a specific business structure needs periodic review, since a plan that made sense five years ago may no longer reflect your current holdings or goals.
Why Colleyville Families Choose Hargrave Law
Comfortable With Complex Estates
Colleyville estates typically go through the Tarrant County probate courts in Fort Worth, and the added complexity of business interests, multiple properties, and significant investment holdings common in Colleyville estates requires an attorney comfortable navigating detailed valuation and structuring work, not just a standard will.
Getting Started
Every estate plan starts with a consultation focused on your actual assets, business interests, and goals. Call Hargrave Law, PC at 817-282-0679 to schedule a consultation and start building a plan suited to your Colleyville estate.
Frequently Asked Questions
Q1. Does a higher-value Colleyville estate need more than a basic will?
Often yes. A will alone does not avoid probate, manage assets over time, or address business succession, so higher-value estates frequently benefit from a trust-based plan layered with asset protection and, where relevant, business succession planning.
Q2. How long does probate take for a complex Colleyville estate?
Estates with business interests, multiple properties, or significant investment holdings often take longer than a straightforward estate, primarily due to the time needed for accurate valuation, even when the administration itself is uncontested.
Q3. Can a trust help keep a family business running after an owner’s death?
Yes. A living trust or a properly structured buy-sell agreement paired with the estate plan can help ensure a business continues operating smoothly through a transition, rather than leaving management uncertain during a probate proceeding.
Q4. Does Texas homestead protection cover a high-value Colleyville home?
Texas homestead protection generally shields a primary residence from most creditor claims regardless of its value, though specific exceptions apply, including for certain tax debts, mortgage obligations, and mechanic’s liens.
Q5. How do I get started on a Colleyville estate plan?
Call Hargrave Law, PC at 817-282-0679 to schedule a consultation. We review your actual assets, business interests, and goals directly with you before recommending a tailored approach.
