How often have we been told by family, advisors, and friends, “Do you have a Will?” While a Will is certainly better than no Will, so too is a bicycle with only one flat tire better than a bicycle with two flat tires. Many people are unaware of the many hazards and inadequacies of a Will based estate plan. Please consider the following:
Revocable Living Trusts, which take effect while you are living, are considered a highly effective tool to avoid the hazards of Will planning.
A Revocable Living Trust avoids guardianship proceedings because you have already chosen or appointed a Trustee to take care of your financial affairs when needed. This Trustee takes over your financial affairs quickly and without the need to file a lawsuit with the court if ever you become disabled. Your Trustee can make sure you are comfortable, pay your bills, and manage your investments without the constant oversight of the court and without disclosing your private matters on public record.
After you die, because a Trust doesn’t require probate, your financial affairs are kept private and your trustee can quickly manage your assets according to your desires without court intervention.
In short, when someone tells you that you need a Will, think again. It may be a Trust that you need instead.
For more information about Hazards of Will Planning, please click here to select a seminar to attend and register today!
Copyright © the Law Offices of Vacek & Thain, PLLC. All rights reserved. You may reproduce materials available at this site for your own personal use and for non-commercial distribution. All copies must include this copyright statement. Some artwork provided under license agreement.
Vacek & Thain, PLLC serves Texas families with their estate planning, estate tax planning, charitable planning, revocable living trusts, irrevocable trusts, Heritage trusts, wills, power of attorney, family limited partnerships, advanced asset protection planning, declaration of guardian for minor children, healthcare documents, will based estate planning and the hazards of will planning, special needs estate planning, estate administration and trust administration. Contact Vacek & Thain, PLLC if you or your loved ones reside in the Houston, Texas area, including: Katy, Cinco Ranch, Mission Bend, Pecan Grove, Richmond, Rosenberg, Greatwood, Sugar Land, Meadows Place, Bellaire, Fresno, Pearland, South Houston, Spring Valley Village, Pasadena, Clear Lake, Friendswood, and more!
Copyright © IMS. All rights reserved. You may reproduce materials available at this site for your own personal use and for non-commercial distribution. All copies must include this copyright statement. Some artwork provided under license agreement.