A Will is one of the most crucial legal documents in someone’s life. It is the bedrock of your estate plan as it defines your wishes for your assets when you pass away. It lets you select beneficiaries of your possessions and nominate an executor to administer your estate. Here is how a will lawyer in Katy, TX, can help:
Comprehensive, Hassle-Free Will Drafting
Writing a Will can be overwhelming and confusing if you do not have a legal background. For a Will to be valid, it must be typewritten and have two disinterested witnesses who are not beneficiaries. Enlisting the services of a competent Will lawyer can make your experience less stressful.
Testamentary Trusts
A testamentary trust is a provision in a Will that protects any inheritance from misappropriation. For instance, if the beneficiary is addicted to gambling, a trusted trustee, will manage the funds or assets on that beneficiary’s behalf.
Contingent Trusts
Under a contingent trust, the beneficiaries can only inherit property or access funds when certain conditions are met. For instance, you may want your kids to inherit property when they attain a certain age. Before that, a trustee will manage the funds for the beneficiary’s HEMS (health education, maintenance, and support.) Unused assets and funds will go to the beneficiaries when they meet the contingency requirements.
Supplemental Needs Trust
A supplemental needs trust is a provision in a Will that protects beneficiaries with special needs. The inheritance goes into a supplemental needs trust managed by a trustee, ensuring the beneficiaries continue enjoying the support and care they need from their inheritance, while not losing their government benefits.
Enlist a Professional Will Lawyer in Katy, TX
A clearly defined last will and testament can help protect your loved ones from unnecessary stress and possible conflicts. It also helps safeguard your assets when you pass away. Ensure you have an experienced attorney by your side as you create your Will.
