Wills | Trusts | Estate Planning | Probate | Guardianship
Thoughtful
Estate Planning
= Peace of Mind
Wills Attorney Serving Frisco, TX
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When life's unexpected turns present legal challenges, finding the right attorney in Frisco can feel like trying to find a lighthouse in the stormy seas. At our firm, we offer experienced legal support tailored to your needs. Whether you need assistance with personal injury, estate planning, or family law, we're here to provide clear guidance and compassionate support. Our goal is to help you navigate through complex legal matters with confidence and assurance.
“Estate planning isn’t just for the wealthy, it’s for everyone, everyone who wants to protect their family and prepare for the future".”
Why Parents of Minor Children Need a Will
When you have minor children, creating a will is essential for ensuring their future well-being and security. A will allows you to make critical decisions about their guardianship and financial support, providing peace of mind that they will be cared for according to your wishes if something should happen to you. Without a will, the court will be forced to make decisions that may not align with your preferences.
● Appoint a Guardian: Designate a trusted person to care for your children if you are unable to. This is crucial for their emotional and physical well-being.
● Establish a Trust Fund: Set up a trust to manage and distribute assets for your children's education, health, and other needs.
● Specify Custody Arrangements: Outline any specific instructions regarding the upbringing and care of your children to ensure they are raised according to your values and beliefs.
How Do Wills and Trusts Work Together
A will and a trust are complementary estate planning tools that work together to manage and distribute your assets. A will outlines how your assets should be distributed upon your death by appointing an executor. Conversely, a trust, allows for the management and protection of your assets during your lifetime and facilitates their transfer to beneficiaries without the need for probate. By establishing a trust, you can provide for the management of your assets if you become incapacitated and ensure that they are distributed according to your wishes more efficiently after your death. Using both a will and a trust together ensures that all aspects of your estate are addressed, offering a seamless transition of assets and comprehensive protection for your loved ones.
Capacity to Create a Will in Frisco, Texas
In Frisco and throughout the state of Texas, the capacity to create a will is a fundamental legal requirement to ensure that the testator’s wishes are valid and enforceable. To legally draft a will, an individual must meet specific criteria that affirm their mental and legal ability to make sound decisions regarding their estate.
● Age Requirement: The individual must be at least 18 years old.
● Mental Competence: The individual must be of sound mind, meaning they must understand the nature of their assets, the purpose of their will, and the implications of their decisions.
● Voluntary Action: The will must be created voluntarily, without any form of coercion or undue influence from others.
Meeting these criteria is essential for creating a valid and enforceable will, ensuring that your estate is managed according to your wishes.
Capacity to Create a Will in Frisco, Texas
Creating a will is a complex legal process that requires careful attention to detail to ensure that your wishes are accurately reflected and legally binding. Consulting with a lawyer provides you with the expertise needed to navigate this process effectively. Our firm can help you understand and comply with all legal requirements, customize the will to address your specific needs, and anticipate potential issues that could arise.
Avoiding Estate Contests
Estate contests can disrupt the distribution of your assets and lead to prolonged legal disputes. To minimize the risk of challenges and ensure that your wishes are upheld, it's important to take proactive steps in your estate planning process. Clear, well-documented, and legally sound wills are less likely to be contested.
At our firm, we are dedicated to providing comprehensive estate planning services to help you navigate this important process with confidence.
For personalized assistance in creating a will that minimizes the risk of disputes, contact us today. Let us, guide you through every step to ensure your estate planning is secure and effective.
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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Methods to avoid probate include setting up trusts, designating beneficiaries for accounts, and holding property jointly with right of survivorship.
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Ensure your will is in writing, signed by you, and witnessed by at least two disinterested witnesses who are not beneficiaries.
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Yes, a handwritten will, or holographic will, is valid in Texas as long as it meets the required legal standards, including being signed by you and written in your handwriting.