Let's face it, you cannot take your property with you when you die. Executing a Simple Will with the help of an Estate Planning attorney can help lower the costs of probate after death and ensure your property is transferred to your loved ones.
Complex Wills and Trusts
Once your estate grows past 1 million, you may consider executing a Will with Bypass Trust provisions to minimize federal estate taxes. A Life Insurance Trust can also be drafted to minimize estate taxes.
Many families prefer to transfer property before they die by executing a living trust. Executing a Living Trust will help avoid probate and Will Contests and protect privacy. These are all services that can be assisted by one of our Estate Planning attorneys in Fort Worth, Dallas, and Denton, Texas.
We will also prepare Living Wills (Directives to Physicians) which allows you to make the determination of whether you wish to be kept alive or end life sustaining treatment in the case of terminal illness.
Let's face it, you cannot take your property with you when you die. Executing a Simple Will with the help of an Estate Planning Attorney can help lower the costs of probate after death and ensure your property is transferred to your loved ones.
The probate process in Texas is not as complicated as other states, especially with the help of one of our probate lawyers. You can transfer title to property after death in several ways.
Decedent Dies Without a Will
When an estate is worth less than $75,000.00, not including homestead and non-probate assets, a Small Estate Affidavit may be executed to transfer property.
An Heirship proceeding may be necessary when the estate is worth more than $75,000.00. This can be costly as the administrator must pay an attorney ad litem to investigate the unknown heirs.
Decedent Dies With a Will
An Affidavit of Heirship may be executed whether the decedent died testate or intestate. It must be signed by a notary and two disinterested persons.
An Independent Administration may be used to obtain letters testamentary or letters of administration which can be used to transfer property after death.
You may also probate a Will as a Muniment of Title only if there are no debts except those secured by real estate liens. This procedure allows for the transfer of title to real property after death.
A Guardianship may be necessary when a loved one no longer has the capacity to make financial and medical decisions. The designation and execution of a Statutory Durable Power of Attorney or Medical Power of Attorney can be used to avoid guardianship if properly executed prior to incapacity. For minors, a Will or Trust instrument can designate a particular person to serve as a guardian in case the testator dies before the minor becomes an adult.
For more information, contact us today for a free 30-minute phone consultation!