Wills | Trusts | Estate Planning | Probate | Guardianship
Thoughtful
Estate Planning
= Peace of Mind
Estate Planning Attorney in Frisco, TX
Convenient. Virtual. Service.
At Texas Wills and Trusts Online, our experienced estate planning attorneys are 100% committed to helping you secure your family’s future. Our team is available to help you with any of your estate needs, from creating a will, establishing a trust, or developing a comprehensive estate plan, we’re committed to providing personalized guidance and ensuring your assets are protected, while also honoring your wishes.
“Estate planning isn’t just for the wealthy, it’s for everyone, everyone who wants to protect their family and prepare for the future".”
Who Needs An Estate Plan?
It is all too common for individuals to make investment decisions, but not have any estate plans put in place once they pass away. An estate plan covers people with significant wealth, guardians with children of the age of majority, people with specific concerns about healthcare, and people who wish to appoint someone to manage their finances, especially in the event of a disability.
Estate planning also helps reduce estate taxes and other legal issues, hence applicable to people in all phases of life and financial status. When it comes to increasing your net worth, raising children, or improving emotional health and inner peace, estate planning is an essential tool for accomplishing this. Estate planning provides clarity for relatives regarding how your assets will be managed.
Estate Planning Services
Every estate plan we design helps preserve each client’s estate from misuse, and we achieve this by sitting down and discussing your objectives and concerns. From there, we come up with a bespoke strategy that addresses your unique concerns and circumstances. In doing so, we facilitate the process of asset protection, management, and division as per the desires and care of the dependents. The following are services we offer:
Wills
A legal document explaining who will inherit which assets after the death of the parties involved.
Special Needs Trust
This type of trust caters to those with special needs without denying them any of the government benefits available to the disabled.
Revocable Living Trusts
Living trusts allow the changes or termination of the trust while the settler is still alive. Living revocable trusts are a good way of managing your properties and do not require probate.
Asset Protection & Management
Designs and plans are put in place to prevent property losses from claims from debtors and other claims.
Powers of Attorney
A legal document that enables an appointed person to take care of one’s finances or medical matters when the individual is not able to.
Irrevocable Trusts
This type of trust once established cannot be modified. These are common for those seeking tax relief or who wish to protect their assets.
Medicaid Planning
Making submissions to get medic aid benefits but ensuring that you do not waste all your financial resources on health care.
Guardianship
Appointing an individual to exercise authority over an adult or child’s basic needs and interests when that adult cannot do so themselves.
Advanced Directives
Healthcare instructions that are made when a patient is otherwise unable to do so.
Areas of Practice
Probate refers to the legal process of administering a deceased person's estate. The court reviews the will to determine if it is valid and provides a final ruling on the division and distribution of assets to heirs and beneficiaries based on the will. If a person dies intestate, or without a will, the court divides the estate according to state law. LEARN MORE
A guardianship typically involves the appointment of someone to manage the medical and physical care of a person with limited capacity such as a special needs child or a person with physical or intellectual disabilities. A conservatorship is a court order that appoints someone to oversee the financial affairs of a minor or a person who is incapacitated. One person can serve in both roles. LEARN MORE
A will and last testament form the foundation of an estate plan and are the key instrument used to ensure that the estate is settled in the manner desired by the deceased. While there is more to an estate plan than just a will, it is the presiding document the probate court uses to guide the process of settling an estate. LEARN MORE
Like a will, a trust provides for distribution of assets based on the deceased’s wishes. But unlike a will, a trust can protect assets from creditors and avoid taxes and the cost of probate. It can provide for control and future direction of assets long after the deceased person’s passing. Special needs trusts can permit a disable child or parent to receive income from the trust while still retaining public disability benefits like Medicaid. LEARN MORE
Everyone has an estate, it’s everything you own, your home, your accounts, your cars, and you probably have very specific ideas where and to whom you want your money to go after you pass. Because if you don’t, the state will be very happy to tell you exactly where your money will be going, and you and your heirs may not like it. Take charge of your estate. LEARN MORE
“Someone’s sitting in the shade today because someone planted a tree a long time ago.”
Warren Buffet
Frequently Asked Questions:
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A trust can allow assets to be transferred to designated beneficiaries without going through the exhausting probate process. A trust also provides greater control, privacy, and potential tax benefits when properly structured.
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No, you are not legally required to have an attorney for estate planning purposes in Frisco, however, consulting one can help ensure your estate plan is legally sound and completely bespoke to your specific needs.
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In Texas, an estate generally has to be worth more than $75,000 to go through the probate process, although smaller estates may qualify for a simplified process.