Completing the recommended legal documents to protect your family can be as easy as A B C!
A. What is a will?
A will is a formally-executed written instrument by which you may:
- Specify the distribution of property. E.g., To family, people who are not immediate relatives, charities.
- Choose the guardians of your minor children—without a will or Appointment of Guardian document, the Court will decide.
- Choose the executor who will settle your estate and allow that person to serve without bond or court oversight.
- Create a trust to protect and manage your assets until your children reach a certain age.
A trust is a relationship where one party (trustee) manages property for the benefit of the true owners of the property (beneficiaries). Your will can create a trust to manage your assets until your children reach the age that you choose.
C. What is a contingency plan?
A contingency plan is a set of documents that guide decision-making in the event of your incapacity. A plan may include:
- Directive to Physicians (“Living Will”)
- Medical Power of Attorney
- Statutory Durable Power of Attorney (for your financial affairs)
- Appointment of Guardian in Event of Death or Incapacity
- Statement of Anatomical Gift (Organ Donation) and/or Funeral Directive
1. Consider the issues listed below in “THINKING ABOUT MAKING YOUR WILL”.
2. Meet with attorney. We offer a FREE consultation meeting to :
a. Discuss your goals for your will and other documents
b. Discuss the unique facts of your family
c. Get answers to any questions you may have
d. Complete legal representation agreement
3. Review and approve draft documents, usually via e-mail
4. Meet with attorney, notary and witnesses to execute documents.
Will I need a babysitter? No! We are parents too! We are happy to have children in our meetings, and meet with you on your schedule. Clients appreciate the convenience of daytime, evening or weekend meetings.
HOW MUCH WILL THIS COST?
If your estate is simple, wills for you and your spouse may cost as little as $750. Most packages that include additional recommended documents range from $850-$1250. This is a flat fee to be determined during your complimentary initial consultation.
THINKING ABOUT MAKING YOUR WILL:
1. The Executor of your will is the person that gathers and distributes your assets if you are gone. Who should be your Executor? Consider one or two Alternate Executors.
2. Do you want all of your assets to be held in trust for the benefit of your children?
3. Do you wish to make any special bequests? Are there specific items of property that should go to certain persons? You may list many specific items or none at all.
4. Have you considered prior marriages and any children of prior marriages?
5. Who should serve as Guardian of your minor children if both parents die? Who should be the Alternate Guardian(s) if designated guardian is unable to perform?
6. Who could perform temporary custodial duties pending the arrival of your desired Guardian? For example, your favorite neighbors might keep children until your parents arrive.
7. Who should act as Trustee to manage your assets for the benefit of your children?
8. Do you desire to be organ donors?
9. Do you have special funeral requests? Do you already have arrangements?
10. Do you own property located outside the state of Texas?
11. Do you own real property in addition to your home?
12. Do you own your own business?
13. Do you have life insurance and/or other death benefits that you intend to benefit your children or other family members? Who is your designated beneficiary for these assets?
14. Consider your other financial assets. You may direct the distribution of your stocks, funds and accounts through your will.
This document does not constitute legal advice. An attorney-client relationship is not formed until we meet and sign a legal representation agreement.