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Wills, Trusts and Estate Planning

• » The Stewart Law Office can help you draft the following:
  • • Wills
    • • What is a Will?
      • »A will is a legal document which may be accepted by a court with probate power and normally states how property is to be distributed after a person's death. A person who dies without a will, is "intestate" (in-TEST-ate), which means that person’s property will be distributed according to the Texas statute. In Texas the beneficiaries will frequently need to go to court for a judicial determination of who receives the property. This commonly includes land, bank accounts, stocks and similar types of property. Failure to leave a valid will that clearly sets forth your intentions can greatly increase the cost of probate and delay the division of property. It is always advisable to prepare a will.
      • » State laws regarding who gets your property may not be in accordance with your wishes. There are several advantages to creating a will in Texas. You may name the person or persons you want to manage your estate (executors), you may designate who you want to receive your property after the payment of your debts, you can provide that the Probate Court shall take no action in the administration of your Estate (except for the initial hearing to admit the Will, the filing of an Inventory and the notices to creditors) and you can permit your executor to serve without providing a bond. You can do all this and simplify the hearing by having a well drafted Will with a self-proving affidavit. For more information about wills, please contact our office.
    • • Trusts
      • » A trust is created by the owner, “Grantor,” of property by transferring property to a second person, “Trustee,” for the benefit of a third person, “Beneficiary.” The transfer should be documented in writing. A trust can be created in a will or during life. A trust is also sometimes called a living trust, revocable trust or irrevocable trust. A living trust is the same thing as a revocable trust: meaning the person creating the trust has the right to amend, destroy or revoke the trust during the grantor's lifetime while competent. If a transfer cannot be revoked it is called irrevocable. Under Texas law a trust may be revoked by the grantor unless the terms of the trust state that it is irrevocable.
      • » Either a simple trust or a gift under the Uniform Transfers to Minors Act (which functions as a statutorily created trust) within your will is advisable if you have minor children in order to avoid the need for a guardianship. You will still want to name the persons you want to assume responsibility for the care and raising of your children. However, the local District Court with family law jurisdiction will ultimately decide who will have responsibility for the care of your children. A Will serves as advice to the Court in this instance, but is not controlling.
      • » A trust can be made during life, “a living trust,” or upon death, “a testamentary trust,” usually by means of a will. The use of trusts in estate planning is an ancient practice with many different uses and techniques. Trusts are highly useful when land is owned in more than one state to avoid the need for a second probate in the foreign state, when a parent has children from a prior marriage and wishes to clearly provide for use of property by the other spouse, when a person has a family history of illness or merely has a very strong desire for privacy.
    • • Directive to Physician
      • » The Directive to Physician, also known as a "Living Will,” typically requests your doctor to follow the instructions of your agent appointed in your Medical Power of Attorney, discussed below, and sets forth which of two choices you prefer in the event of a terminal illness or irrevocable condition. This document states whether your agent should consider such steps as disconnecting any life support systems if you are suffering from an incurable or irreversible condition caused by injury, disease or illness certified to be a terminal condition by two physicians. These actions may be taken only if the application of life-sustaining procedures would serve only to artificially prolong the moment of your death and where your attending physician determines that your death is imminent or will result within a relatively short time without the application of life-sustaining procedures.
    • • Statutory Durable Power of Attorney
      • » Statutory Durable Power of Attorney is designed to allow a designated person or persons to manage your financial affairs should you become mentally or physically unable to do so.
    • • Medical Power of Attorney
      • » Medical Power of Attorney allows a designated person or persons to consent to medical care on your behalf should you suffer an injury or become mentally or physically disabled. The Medical Power of Attorney is designed to become effective if you become unable to make your own health care decisions and that fact is certified in writing by your physician. The agent you appoint may consent, refuse to consent or withdraw consent to medical treatment and may make decisions about withdrawing or withholding life-sustaining treatment. Your agent's authority begins when your doctor certifies that you lack the capacity to make health care decisions. Unless you state otherwise, your agent has the same authority to make decisions about your health care as you do.
    • • Declaration of Guardian
      • » The Declaration of Guardian form is designed to allow you to designate who will be allowed to serve as the guardian of your person and of your estate should one ever need to be appointed. You may also declare that you do not want a particular person to serve as your guardian. Hopefully, you will never need to have a guardian appointed for you, but if you do, the judge will be aware of your thoughts and desires by use of this form.