Wills & Probate
Affordable, Compassionate Estate Planning Attorney - Lake Conroe to Houston, TX
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Yes, you do have a Texas estate!
Do you own a car? Have a bank account? Own a home? If so, you have an estate. In Texas, if you don’t have a will, the State decides who gets your assets. Wouldn’t you prefer to have some say in the matter?
One component of estate planning is the creation of a will. It involves designating who you want to receive your property after you die and how you would like it transferred. Other parts of your estate plan can include appointing a guardian for your minor children if you die unexpectedly and naming a financial and medical representative to make decisions for you if you become incapacitated.
Learn more below about the critical documents you should have to ensure your wishes are known and followed.
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Save your loved ones time and money
Probate is the process the State uses when determining how to divide your estate. The process can move quickly if you have a will. However, if you don’t, it might involve a lot of time, money and paperwork.
Documents filed during probate are a matter of public record. This means anyone can see a family drama that’s unfolding. An estate plan is essential to take care of your family’s needs after you die and maintain your privacy.
Wills & Estate Planning
Having the right estate plan is crucial. It can confirm who is legally empowered to make healthcare decisions and manage your finances if you have an accident and become incapacitated.
It can also make your wishes clear about taking extraordinary measures if you need them and ensures your bills get paid while you are out of commission.
Without an estate plan, your loved ones can dispute the decisions about who will raise your children and have the right to your home and other assets. They may stand at your bedside, fighting over who has the right to make end-of-life decisions for you when you can’t. If they go to court, it can take years and a lot of money to get everything straightened out.
Estate Planning Attorney in Conroe, Rayford, Westfield, Spring, Aldine and Houston
4 Critical Texas Estate Planning Documents
Texas laws can make estate planning a complex process. The most important components of an estate plan, in most cases, include:
- Will
- Living trust (also known as a revocable trust)
- Advanced health care directive
- General durable power of attorney
Do you have retirement or investment accounts that you would like to help pay for your children’s or grandchildren’s education? If so, you can set up a trust that will handle the details of covering school costs and more.
An estate plan can be as simple or as complex and you need it to be. I can help you decide which tools can help you prepare for the future, based on your situation and finances.
Probate
Whether your loved one had a Last Will and Testament or dies Intestate (without a Will) there are several ways to probate a loved one’s Estate. The most common include:
- Standard Probate of the Estate as an independent administration
- Probate of the Estate as a dependent administration
- Muniment of Title
- Small Estate Affidavit require Court action.
Each action has certain requirements that you must meet to probate the estate.
Probate of the Estate as an Independent Administration
In order to probate an estate as an Independent Administration, the following must be present:
1. The Decedent must have had a valid Last Will.
2. The Will must have identified the person to act as the Executor and state that the Decedent wanted them to act independently, or all heirs under the Will must agree that a specific person act as the Administrator and state that they wish the Administrator to act independently.
Probate of the Estate as a Dependent Administration
Should the Will fail to identify a person to act independently as the Executor and the heirs under the Will fail to agree to an Administrator and/or fail to agree that any such person should act independently, the Court will appoint an Administrator and provide oversight of many actions of the Administrator. This type of Administration is usually the most costly due to the amount of additional work required by the attorneys in representing a Dependent Administrator, filing potential protests, and attending additional hearings.
Muniment of Title
In order to probate an estate as a Muniment of Title, the following requirements must be present:
1. The Decedent must have had a valid Last Will.
2. There must be no other debts other than those secured by an interest in Real property.
3. The Decedent must not have received Medicaid benefits after March 1, 2005.
4. There must be no need for Administration of the estate, since there is no Administrator appointed in this type of Probate.
Probate of the Estate under a Small Estate Affidavit
An estate may be probated under a Small Estate Affidavit if the following conditions are present:
1. There is no valid Last Will.
2. At least 30 days have passed since the death of the Decedent.
3 No person has filed an application to be appointed as the personal representative of the Estate.
4. Non-exempt assets are more valuable that all debts owed by the Decedent.
5. The gross value of all non-exempt property of the Decedent is less than $75,000.
In determining the proper way to probate your loved one’s estate, we will review the Will, if there is one, and discuss the options and fees associated with each method that is available.
Contact a Wills Lawyer Near Me
An experienced Conroe wills lawyer can help you with strategies to minimize probate and the amount of taxes your family must pay. Contact the Law Office of Rick J. Deal or call (936) 499-5780 to set up an appointment to review your case. We can discuss your circumstances and create an estate plan tailored specifically to meet your needs.
