The straight answer is YES. Even if you feel as if you won't have anything to leave anyone when you pass away. Even if your familiy gets along swimmingly and you have no doubt they'll show the same courtesy and love to each other after you're gone.
What if you get in an accident with a "Big Rig" truck, coming home from the kids' house one day? You're in the hospital for months, eventually dying of your injuries. Your Estate is entitled to the $10 Million-Dollar settlement, but who gets the money? And how?
Even if you want your newly-found fortune to go to your beloved Uncle Fred, when there's no will, state law dictates who gegts the house, car, savings, and other assets.
Texas Courts are guided by intestate succession, which tells them that family members, if alive, are entitled to a portion of your Estate, and in what percentages.
This distribution may be IN NO WAY what the deceased wants, the Courts must distribute the way intestate succession tells them they must.
If you had a will, you'd have named an executor, who cashes checks, pays off creditors, and distributes any money or property to your beneficiaries.
Without a will, your heirs will have to ask a court to appoint a personal administrator. Usually, the Court will appoint your surviving spouse or a child. BUT, you risk a family fight over who should be in charge.
As discussed previously, everyone should at least consider one. From simple, standalone wills to complex will-and-trust packages, GLG will tailor an estate plan that will work for YOU.
Trusts are often requested by our clients, to "go along with" their wills. However, in Texas, trusts aren't always necessary (or even helpful)! Let us help you decide whether your situation warrants one.
From Special-Needs Trusts for the benefit of a family member with special needs to NFA Gun Trusts, GLG has experience with multiple types of trusts.
As the population gets older, heathcare worries often follow. Our estate plans often include Advanced Directives to Healthcare Providers and other documents, to help ensure you're ready for what may come.
With a Power of Attorney, a Principal can grant his or Agent the ability to act in place of the Principal, in everything from property to healthcare affairs.
GLG approaches its estate planning the same way it approaches all types of law: collaboratively, with your input and wishes taken account at every step of the way.
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