Most people wonder if they need a Will. Some people think that they don’t have enough assets to bother creating a Will. Others think they just can’t afford to have one drafted. The bottom line is – a Will is a good idea for just about everyone – and a basic estate plan is not costly.
If you have children, expecting children, or you are in a blended family situation, you NEED a Will. If you don’t have one, the probate court will most likely set up a conservatorship to manage your children’s share of your property if you and/or your spouse die unexpectedly. Without a will, a Judge will decide who manages the money based on the INTESTATE laws of the state you reside in (most likely Texas law if you reside here). This may put you in a adverse relationship with relatives 0 even your own children! When each child turns 18, he or she will get his share, whether they can handle it or not. If you have a Will, you can decide who will manage your children’s inheritance on their behalf and you can choose the age at which you want it to be distributed to them.
No matter the size of your estate, a WILL (estate plan) is a good idea. In addition to Estate Plans – we can draft LIVING will documents for you and your loved ones. Living Will documents include – Medical Powers of Attorney, HIPPA form(s), Declaration of Guardians, Directive to Physicians, etc. For any questions regarding Estate Planning, please contact GREGG S. HARRISON for a FREE INITIAL CONSULTATION.