Wills & Estate Planning
It is essential to have an Estate Plan for the benefit of yourself and your loved ones. In Texas, when one dies intestate (without a Will), their property is divided according the Estates Code. Preparing a Will ahead of time will ensure that your property will be divided according to your wishes instead of leaving the decision to the State.
It is also important to have the necessary documents during your lifetime. If for some reason you are unable to speak for yourself, such as advanced age or an accident, you would want people you love and trust making those decisions. And more importantly, make decisions according to your wishes.
Our comprehensive Estate Plan package includes the following:
Last Will & Testament Statutory Power of Attorney Medical Power of Attorney HIPAA Release
Declaration of Guardian Directive to Physician Gift by Living Donor Disposition of Remains
Revocable Living Trust
In addition to having an Estate Plan, some individuals may find they need a Revocable Living Trust. Living Trusts are legal entities which you transfer your property and assets into during your lifetime. They have the main benefit of allowing you to avoid probate if done correctly. It is still recommended you have a Will, though, because anything not placed in the Trust will still need to be probated to transfer ownership.
Contact us today to see if a Trust is right for you.
Revocable Transfer on Death Deed
Depending on the on your number of assets, a Revocable Transfer on Death Deed might suit you better than a Living Trust. Introduced in Texas in 2015, this type of deed allows you to transfer property to beneficiaries outside of probate. During your lifetime, you list beneficiaries and alternative beneficiaries for whom you would like to the property to be conveyed to and record it with your county’s deed records office. Once you pass away, the beneficiary will file an Affidavit of Death in the same office and will then own the property. Fortunately, though, it is revocable. If at any time during your lifetime you change your mind, you simply record a revocation or a new deed with the deed records.
Most Estate Plans and Living Trusts are offered at a flat fee rate. This includes the initial consultation, the drafting of the documents, all revisions, and the final signing. This allows you to know the exact price of what you are getting and the benefit of making as many revisions as you would like until we get a product you are happy with.