A Will, also known as a Last Will and Testament, is used to formally state who you want to receive your property when you die. A Will also names an Executor to settle your affairs. You may also name a legal guardian for a minor child (under eighteen years of age). But remember: "A Will is not a Will unless a judge says it is!"
Below are a few frequently asked questions regarding Wills:
Does a Will avoid Probate? A Will DOES NOT avoid probate! In fact, a Will guarantees probate. If you are interested in preventing your family from having to go to court after you die, please talk to us about your options. A common, efficient, and cost effective way to avoid probate is creating a Revocable Living Trust.
When should I have an attorney review my Will? Some of the many reasons to review your Will include:
In order for a Will to be valid, there are strict requirements surrounding its drafting and execution. It is preferable to use a qualified estate planning attorney to ensure that all of the requirements are met so that your wishes will be honored. You may have estate tax issues that need to be addressed. You may also want to set up trusts for your children so that you may delay distribution of your property to them until an age you decide, or in order to protect their inheritance from predators (i.e. divorce, lawsuits, creditors, bankruptcy, etc.).
For more information about Will Based Estate Planning, please click here to select a seminar to attend and register today!
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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!
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