Wills

Wills Lawyers in Houston, TX

Houston Estate Planning Safeguarding Your Family’s Future

There are a great number of things life throws at us, and one of those is death. We can’t control it, and we never know when it’s going to happen.

When you think about planning for end-of-life, what comes to mind? Most people share the same question: How can they ensure their families can manage without them, financially and otherwise?  

Protecting your family’s future with a will is one step you can take to control the unexpected in the event of a debilitating medical event that changes your quality of life or your death.

Whether you’re young, single, married, have kids, have a lot of assets, or only a few belongings, it’s never too soon to protect your assets with a will and estate plan.

Estate planning doesn’t just protect your financial assets; it ensures your loved ones aren’t burdened with legal issues or financial hardship in the event of serious illness or after you pass away. If you die without a plan in place, the probate process can become increasingly stressful.  Even worse is not having a plan in place in the event of your incapacity.   Your family could be responsible for mounting legal fees that come from a prolonged court administration period. Your well-crafted will, power of attorney, and other planning documents will offer your family clarity and direction, allowing them to grieve their loss.

Take a small leap and start coming up with a plan for your will with the help of our Houston wills lawyers. Call today to begin the first step in planning your estate: (281) 771-0560.

What is a Will?

A will, also known as a “last will and testament,” is a legal document that outlines your final wishes, funeral arrangements, and how you would like your assets distributed upon your death.

When you establish a will, you may also assign a person to handle your affairs, known as the executor,  to facilitate your will and distribute your assets according to your instructions. A will only goes into effect after death, never before, and must be approved by a court.

Additionally, if you have any minor children, a will is an important legal step in making sure they have a guardian and are taken care of in your absence.

A Last Will and Testament is not the same as a Living Will.  A living will allows their named agent to make critical decisions about life-sustaining procedures, feeding tubes, and other end-of-life care needs when illnesses or situations become terminal.

For a will to be legally sound in Texas, it must, at a minimum, meet the following criteria:

Legal Age and Capacity

The testator (creator) of the will must be at least 18 years of age and of sound mind when creating a will.

In Writing and Signed

The will must be written and signed by the testator. While handwritten and oral wills may be valid in Texas, they risk being misinterpreted and may lead to probate disputes.

Witnessed

The signing of a will requires at least two witnesses who are at least 14 years old. They can not be beneficiaries of the will.

Clear Beneficiary Designation

The will should clearly state the estate’s heirs to prevent probate issues.

Executor Appointment

Although not required, the testator should also name an executor who will manage the probate administration of the will, pay the estate’s debts, and distribute the remaining assets to the beneficiaries.

Probate without a will is trickier, especially for family members who might be entitled to real estate property or other assets. Without a will and an executor, the court has no clear way to distribute these assets and will follow Texas intestacy laws, which favor close relatives, such as your surviving spouse and children, then parents, and may eventually land on a distant relative.

If the decedent dies without a will, all is not lost. Our Houston probate lawyers might have a solution that can help. 

Our estate planning team emphasizes holistic estate planning, which is a proactive approach to protecting your most cherished family members and your assets according to Texas law. Contact The Hatchett Law Firm: (281) 771-0560

What Happens if You Die Without a Will? 

When someone dies without a will, Texas law says they have died “intestate,” and an heirship may be needed to determine who is entitled to inherit.  The court will use something called intestate succession to distribute your assets. The court prioritizes close family relatives like your spouse and children. If you do not have a spouse or child, then your assets will go to your parents. Intestate succession is followed until your assets have been distributed, which may result in distant relatives receiving your estate. If no heirs are located, the assets will be absorbed by the state.

During the creation of your will, you will assign an executor to manage your estate after you pass. If you die without a will, the court will be required to assign an administrator for your estate instead. Since they will not have your written instructions, they will need to find your assets and value them, then inform your creditors, settling your debts and taxes with assets from your estate.

This can make the entire legal process of settling your estate take substantially longer and may even result in a significant increase in legal costs, meaning fewer assets for your family. Since the court doesn’t have your will to reference regarding who you want to give assets to, your assets may end up going to family members that you do not want as heirs to your estate.

The time to write your will was yesterday – but we also have right now. Contact The Hatchett Law Firm to speak with a member of our team to get started right away.

What’s the Difference Between a Will and a Trust?

Depending on your goals and desires for your family and how simple or complex your overall estate is, a will is not the only piece of the legal puzzle when it comes to planning for your future.

A comprehensive estate plan covers multiple bases and includes a will, a trust, and other important legal documents to protect you and your family from future legal hassles.

Here is a closer look at both a will and a trust and how they differ:

  • A will is a legal document that directs how a person’s property should be distributed at death and allows the person to name an executor and guardians for minor children. A will only becomes effective upon death and must be validated through the probate process, which is court-supervised and can take time and incur expense.
  • A revocable living trust is created during a person’s lifetime and holds title to assets while the person is alive. The person typically serves as trustee and retains full control, with the ability to amend or revoke the trust at any time. At death, assets held in the trust are distributed according to the trust terms without going through probate, providing greater privacy and often a more efficient transfer of assets.

In short, a will controls assets through probate after death, while a revocable living trust can manage assets during life and transfer them at death outside of probate.

A will is the first document to prepare to provide protection of property and family to take effect after death.  Additional documents are recommended to complete a comprehensive plan. 

A significant benefit of a trust is its ability to bypass the probate process. Probate can be lengthy and expensive, and delay the transfer of assets for months and sometimes even years! By placing assets in a trust, your family may be able to gain access to them faster and with fewer legal complications. Trusts can offer greater privacy because assets held in a trust generally avoid the public probate process. By contrast, assets distributed through probate become part of the public court record. That said, trusts are not without risk. A significant drawback is the lack of court supervision and built-in accountability for trustees. Without proper oversight, a trustee may fail to carry out the trust as intended.

Additionally, many trusts are never properly funded or actively managed after they are created. When assets are not transferred into the trust or the trust is not maintained, it can become ineffective—sometimes offering no real benefit at all. In fact, if a trust is paired with the wrong trustee or left unchecked, it can undermine the very goals and intentions it was designed to protect.

Where Does Estate Planning Fit In?

Your estate, part of estate planning, is every valuable asset you own, from vehicles, businesses, properties, investments and savings accounts, and personal belongings. Estate planning also covers a plan for your children and who will care for them in your unfortunate absence.

Estate planning is the overarching process of asset protection. It covers how to protect your assets, from your family members to your business to your personal belongings. Plus, it goes into greater, more specific detail about how medical situations should be handled.

For most Texas families, the essential components of an estate plan include these estate planning documents:

  • Last Will and Testament
  • Declaration of Guardian in the Event of Incapacity
  • Declaration of Guardian for Minor or Special Needs Children
  • Durable power of attorney for Financial Decisions (POA)
  • Healthcare power of attorney (POA)
  • Burial Decisions Directive
  • Transfer on Death Deed for Real Property
  • Living will (Directive to Physicians)

At a minimum, an estate plan should include a last will and testament and powers of attorney. Adding a trust and additional medical directives will ensure your family has a clearly outlined plan that’s designed in your best interest and protects your family’s future at the same time.

These are all critical decisions and steps that our estate planning attorneys, with wills and trust expertise, can help you navigate based on your ultimate goals.

Why Engage a Wills Lawyer?

Our estate planning team, The Hatchett Law Firm, has hands-on experience helping families in every stage of life clarify important goals and financial needs for themselves and their loved ones as part of the estate planning process.

As part of helping you prepare for the planning stage, now that you have a better understanding of your potential options, you can start by gathering information about your current situation that might be helpful when you contact us to speak with a member of our team, including:

  • What you currently have, or any debts you owe
  • Beneficiaries
  • Potential fiduciaries (agents and executors)
  • Plan for children and dependents
  • Special needs children and any specific arrangements or plans
  • List of final wishes
  • Potential legal guardians

Our estate planning attorneys can give you clarity, peace of mind, comfort, and security when you create a comprehensive estate plan with our help at The Hatchett Law Firm. Our goal is to make your life a little lighter right now and your family’s easier and burden-free in the future.

Our estate planning lawyers always put families first at The Hatchett Law Firm. Contact our team today: (281) 771-0560.