Wills, Trusts, Estate Planning

At Barnett & Leuty, PC, we understand that planning for the future can be a challenge.

No one likes to think about their own mortality, but it is important to have a plan in place in case something happens to you—to protect your rights and your loved ones.

What is a Will?

A will is a legal document that sets forth your wishes regarding the disposition of your property after your death. A will can also appoint a guardian for minor children. A will must be signed and witnessed to be valid.

What is a Trust?

A trust is a legal arrangement wherein property is held by one person (the trustee) for the benefit of another person (the beneficiary). Trusts can be used for a variety of purposes, including avoiding probate, minimizing taxes, and protecting assets from creditors.

Who Needs a Will or Trust?

Everyone needs a will, and some people can benefit from having a trust. It is important not to wait until you get “old” or “older” to get a will because nobody knows when their time will come. It is important to be prepared and you must prioritize creation of these critical documents. If you don’t have a will, the State of Texas has one for you; the state determines where your assets go instead of you. Moreover, without a will, the probate process typically takes longer and is more complicated and more expensive.

For those who wish to avoid probate altogether, a trust can often help accomplish this goal. A trust transfers assets immediately, privately, and without court involvement.

What is Probate?

Probate is the legal process by which a will is validated (if you have a will) and estate administration is carried out. If you die without a will, your estate must go through a more lengthy, complicated and expensive version of probate, but if you have a will, the process is comparatively easy, streamlined and much less expensive. The probate court will appoint an executor or administrator to carry out your wishes as set forth in your will or carry out the distribution of your estate under Texas law if you don’t have a will. The court may also appoint a guardian for your minor children. Your executor will also be responsible for paying your debts before distributing your estate assets.

Our attorneys are here to help you navigate this complex legal landscape so that you can focus on what matters most – taking care of yourself and your loved ones.

Our attorneys represent individuals in all aspects of estate planning, including the preparation of:

• Wills
• Medical Powers of Attorney
• Statutory Durable Powers of Attorney (finances/property)
• Physician’s Directives (Living Will)
• Revocable Living Trusts
• Medicaid Asset Protection Trusts
• Other Types of Trusts
• Muniment of Title
• Affidavits of Heirship
• Small Estate Affidavits
• Family Limited Partnerships
• Business Succession Planning