Wills Attorney Arlington TX
Those who seek help from a wills lawyer in Arlington, Texas, can receive assistance in protecting, organizing, and distributing their assets in the event of death or incapacitation. Although you can technically create your own will without legal guidance, doing so could be risky especially when significant amounts of financial wealth or assets are involved.
When someone does not leverage the guidance of a TX wills attorney in Arlington, major issues can develop after the fact. It can even lead to litigation between surviving loved ones, which is unfortunately all too common. Contact our Arlington office to request a free consultation to learn more about our legal services and how our insight can be of benefit to you. Below are some considerations that many do not take into account when planning their will, unless they work with a member of our legal team.
Peace of Mind
One of the many benefits of hiring an experienced lawyer from Brandy and Austin Law Firm PLLC, is the assurance that the important details will be taken into consideration and not left aside. This provides our clients with peace of mind knowing that their assets and cherished possessions will be taken care of after their passing, in the manner of their choosing. This can also provide relief for one’s heirs, knowing that their loved one will leave behind clear instructions.
Ask for Assistance
Brandy Austin Law Firm, PLLC is a firm driven by the desire to protect and defend the rights of our clients. With years of experience in drawing up wills and trusts, we understand the complex legalities involved. An Arlington wills attorney in TX can discuss the details of your will and explain the process of creating one. Don’t be shy to ask for assistance, as we understand how intimidating writing a will can be.
What is a Will?
A will, also known as a living will or advance directive, refers to a legal document which gives the bearer (or drawer of the will) the right to state their final wishes for medical care, asset distribution, financial wealth, and so forth. By not having a will that expresses such wishes, avoidable disputes and legal mishaps could arise in the event of your death or incapacitation.
Notarizing Your Will
Every state has developed its own laws and rules pertaining to what is considered a legal and valid will. Although some people choose to create one on their own, many retain a TX wills attorney for support. Your will can be brief and just a few pages in length, or very extensive. An important part of the will is the notary. Without this legal notarization of the will, a court could consider it null and void. Once a member of our legal team or public notary signs it, the will is valid. Should you ever wish to modify the legal document, you can do so at any time.
Federal, State and Local Laws
Choosing to retain an attorney for the drafting of a will can immediately take a huge amount of weight off your shoulders. Brandy Austin Law Firm, PLLC can ensure nothing is left out of a document that could secure financial stability for your loved ones. A wills attorney from Arlington, TX can take into consideration any federal, state, or local laws so that no legal hindrances arise in the future. Tax advantages for your heirs might also be discussed; thereby providing them with the opportunity to maximum their inheritance. In addition, our legal team is ready to advise clients on the following:
- -Choosing or naming a beneficiary for financial power of attorney
- -Allocating permissions to individuals who can have access to financial accounts
- -Creation of an ethical will which discusses the reasons for specific distribution
- -Drawing up a legally binding last will and testament
- -Review of will drafts to ensure rights and wishes are protected
- -+ More
Do You Need a Will Attorney?
If you want to know more about creating a will, a lawyer at Brandy Austin Law Firm, PLLC would be happy to speak with you. For a complimentary consultation with us, please call today. A will attorney can be highly advantageous when you:
- -Own assets in multiple states or countries
- -Have minor children
- -Are remarried
- -Own a business
- -Possess physical or financial assets worth over $1 million
- -Are unable to understand the entire legal process or relevant documentation for writing a valid will
Adding a Will to Your Estate Plan
You might wonder why you would need a will if you already have an estate plan. The purpose of a will is to have a written document that is legally binding in dividing your assets after you pass. In putting your wishes into writing, you are essentially taking care of your family. So often, when there is no will, families are left to fight over the inheritance. The distribution of assets will likely become the court’s decision and can take a long to time for it all to be resolved. Contact Brandy Austin Law Firm, PLLC today and a a TX, Arlington wills attorney can guide you on the importance of having a comprehensive estate plan, including a will, that ensures your family is taken care of.
How the Will Fits into the Estate Plan
A will is an important addition to your estate plan because it will ensure your family is taken care of, even if you have a trust in place. Many people choose to have a will in addition to a trust in order to cover all aspects of his or her estate. A wills attorney can help guide you to create these important documents in an effort to handle assets and debts so that your family is clear on your wishes. The wills attorneys at Brandy Austin Law Firm, PLLC can explain the options available when it comes what may be best for you and your family.
Elements of a Will
A will allows the creator (also referred to as the testator) to identify exactly how the individual’s estate will be distributed in the event of his or her death. The estate includes physical items such as homes, cars, furniture, art, jewelry, etc. The estate also consists of monetary belongings like checking accounts, savings accounts, stocks, and bonds.
A Will Versus a Trust
Although wills and trusts are quite different, when handled correctly they can be complementary to each other and to the estate plan that reflects your wishes. There are many types of trusts but the most common is a living trust. Ultimately, living trusts are legal agreements between the creator, the trust and the beneficiaries. A trust is likely to reduce or avoid taxes and probate court. Similar to a trust, a will allows the creator to identify beneficiaries, but it also may identify guardianship of minor children and possibly address debt. An wills attorney in Arlington, TX can go over the different types of trusts available and how your estate plan could benefit.
Many people have life insurance coverage but after signing up for it and paying their premiums, they often do not think much about it. When you work with our legal team, they can help you ensure that life insurance benefits go where you wish after passing:
- Designate the beneficiaries of the insurance proceeds after you pass away.
- Specify that the insurance proceeds should be paid to your trust or estate. This can be done using a trust or a will.
Retirement Benefits and Annuities
If you have a retirement benefit plan of some kind, whether through your workplace or you have a Roth-Individual Retirement Account (IRA) or a standard IRA, it should be taken into consideration when you create your estate plan.
- -If you pass away before the age of retirement, those who you name as the beneficiary or beneficiaries will receive the funds in your retirement account without them having to pass through probate. There may be tax consequences, which you can learn more about from a member of our legal team.
- -If you pass away after the age of retirement, as long as you had previously chosen the benefit option to continue payments after your death, your designated beneficiaries can receive the payments from the retirement account.
- -We can advise you as to whether or not it may be beneficial from a tax advantage standpoint to create a trust and have your retirement account assets paid to the trust upon your passing.
- -If you are legally married, state law may mandate that you must name your surviving spouse as the beneficiary of your retirement plans unless they provide legally recognized signed consent for you to name other beneficiaries in their place. We can clarify whether or not this is an issue under your particular circumstances.
How to Ensure Your Will is Not Challenged
In writing a clearly thought out and well planned will, especially with the help of an experienced TX wills attorney, you will significantly reduce the chances of anyone being able to contest the will. Brandy Austin Law Firm, PLLC understands state and federal laws and the appropriate execution of a will that is legal and binding.
Ultimately, in putting your wishes in writing, you are making certain that you are taking care if loved ones. Brandy Austin Law Firm, PLLC can help facilitate the process of creating a will as part of your estate plan. We offer a no-cost initial consultation at no charge as an opportunity to learn more about the services we provide so that you can make informed decisions.
Contact us today to schedule your consultation with our trusted and dedicated legal team. We can facilitate the most appropriate plan that suits your needs and protects your family. Contact us to meet with a wills attorney in Arlington, TX today.