Wills

 In Texas, anyone wishing to create a valid will must meet several basic criteria for the will to be valid. These include an age requirement (there are some exceptions); legal mental capacity; testamentary intent; and it must be created free from undue influence by others. Many times, people think they can just use a will they paid to have setup quickly through a form-creator website. However, these all too often miss important language which is necessary to prevent added probate cost and court involvement down the road.

A will and basic end of life documents are sometimes all that one would need in an estate plan. This is more likely the case for someone with a modest estate. Individuals or families with larger, more complex estates, especially those with a business involved, would need an trust based estate plan, for proper wealth and end of life planning.

A Pour Over Will is a practical tool that comes into effect at the end of one’s life and “pours” the remaining contents from the will into a trust which was previously established during the deceased individual’s life time. 

A Holographic Will is a basic will which comes into effect when the testator drafts the will entirely by hand. 

I will make sure your property is efficiently distributed to your beneficiaries without accruing unnecessary costs or taxes. Probate is the court involved process which is required to administer someone’s Will after their passing. Having a Will which is clear in its interpretation and easily understood by beneficiaries and a judiciary is important to prevent unnecessary contests of the Will. 

When someone dies without a Will, probate involves additional witnesses and court proceedings which can make it more time consuming and expensive. However. If the estate does not include many assets or debts, little is required in the way of court involvement. All that may be necessary is to file a simple legal document evidencing the transfer of ownership of property to one’s heirs, such as an Affidavit of Heirship.

If you are involved in a dispute over an estate, call me to discuss your options for resolving the dispute.

 Giving to charity is an excellent way to express your generosity or give back to your local community. In addition, charitable giving is often tax-deductible, further helping to reduce your taxable income. By setting up a charitable foundation or trust which supports an organization you care about, you can ensure that your charitable giving continues beyond your lifetime.

Donating appreciated assets such as stocks, real estate or artwork to a charitable organization can help avoid capital gains tax that would be owed if the asset were sold.

Charitable giving can also be used to reduce estate taxes. By leaving assets to a qualified charitable organization in your will, you can reduce the taxable value of your estate and potentially lower the amount of estate taxes owed.