"Let's protect the ones you love from undesired probate problems... Today".
Can I Make Things Easier For My Family?
Yes. Loved ones are often left with dealing with not only the passing of someone they adore but are also having to figure out how to transfer title of the property and fin off creditors. The probate process gets initiated and this can cause a family to experience even more stress. While some people mistakenly assume that probating property is a simple task. Others understand the importance of hiring an attorney to navigate the many options of estate planning and avoid a costly probate process. Proper estate planning is a smart way for you to reduce not only cost but stress and confusion. Let the Pouncil Law Firm tailor a plan to fit your needs. Don't wait. Call us today!
What Are Some Options For Me?
A common and well-known estate planning tool is a will. With a will, you can distribute your property the way you desire and avoid confusion and additional cost. You can also have a say so regarding who is in charge of distributing your property. A will can also protect your minor children and disabled adult children in the event you and your spouse both die. Otherwise, the state will make these decisions for you.
A Trust is in an intentionally created fiduciary relationship with regard to property in which the legal title is in the trustee but the benefit of ownership is in another person called the beneficiary. There are several ways trusts can be set up depending on your specific desires. A revocable trust can even be a good substitute for a will, making matters less public and less expensive to administer. If you believe you may be subject to an estate tax a revocable trust may be an option for you because it reduces the value of the gross estate without giving the Trust property outright to the beneficiary. Call us today so that we can walk you through your next steps.
Is Estate Planning Only About Death?
Not at all. It's not uncommon for people to experience some form of incapacity such as Dementia prior to dying. Dementia is a progressive disease that destroys memory and other important mental functions. According to the Alzheimer Association, 1 in 3 seniors dies with Alzheimer's or another dementia. It kills more than breast cancer and prostate cancer combined. Don't wait until it's too late. The Pouncil Law Firm can prepare essential tools that cover incapacity such as a durable power of attorney, medical power of attorney, medical directive, HIPPA release forms.
Without this information, it is very possible that decisions will be made by people whom you don't know or trust. Often this is overlooked because incapacitation can occur suddenly. Don't let this happen to you or someone you love. Call us today!
What If They Died Without A Will?
If your loved one has died without a will you're probably wondering what to do with property such as bank accounts, the house, cars, businesses or even the safe deposit box. We suggest that you begin by giving us a call. Texas probate law has provided guidance on distributing the property of people who have died without a will. However, that process can be very difficult to understand and follow.
So What Exactly Is Probate?
Probate is the proceeding in which an instrument is determined by the Court to be the duly executed last will of a decedent or if there is no will, the proceeding in which the decedent's heirs are determined. At a probate proceeding, a personal representative called an executor or an administrator can be appointed to carry out estate administration selling, dealing with creditors, decedent's assets. If you are appointed as a representative, you may be charged with the duty to of collecting the property, filing the decent's final income tax and estate tax returns, and distributing assets to persons who are entitled to receive.
Texas law also allows for alternative ways to distribute property without lengthy probate proceedings. For instance, when the court determined no unpaid debts owed by the estate other than the mortgage on a homestead or when the estate does not exceed $50,000.