Austin Will and Trust Lawyer
Wills and Trusts are legal documents that state who will receive a person’s assets after they die. These documents must be established with the help of a lawyer in order to be legally valid. Estate planning is an important step in the life of an adult. By establishing a plan for your assets you are taking responsibility for your own estate and preventing the burden from falling on your loved ones.
If you are a self-sufficient adult with an income, you should have a will to protect your loved ones and make sure your final wishes are carried out. Jason Katims can help you create your will today. Call (512) 900-9769 to schedule a consultation.
What is a Will?
Sometimes referred to as your last will and testament, a will is a legal document that states your wishes for your finances, property, possessions, and assets after you are deceased. You have complete freedom to choose who to leave your assets to and in what amounts. In order for a will to be legally binding, it must be signed in front of witnesses.
Why do I need a Will?
If you have any assets and especially if you have children, a will allows you to decide what happens to them if you die. You can establish legal guardians for your children and decide who will receive your funds, property, and possessions. If you don’t have a will, the court will make these decisions for you, and the decisions made may not be what you would have wanted.
When should I establish a Will?
Every adult should have a will, whether single or married, and with or without children. If you don’t have one, the best time to establish a will is now. Other common times to have a will made are when you get married or when you become a parent. It is also important to review your will periodically and make any changes that need to be made after significant life events, such as the birth of a child.
Other Types of Wills
- Holographic will: a will that is written and signed, but without a witness. A holographic will is more easily contested than a witnessed will.
- Oral will: a will that is spoken in front of witness, but not written down. An oral will is not widely recognized as a legal will.
- Pour-over will: a will that is established along with a trust.
- Living will: legal documentation of your medical wishes in the case that you become incapacitated and cannot make decisions for yourself.
What is a Trust?
A trust is a legal document that includes specific conditions about how your assets are to be distributed after you die. A trust is often used to dictate how a certain portion of an estate will be handled. In many cases a trust is used when the beneficiary is a minor, perhaps including a stipulation that the beneficiary only receives the assets when they are able to prove they can handle it responsibly.
A pour-over will is often included to ensure that any assets intended to go into the trust will be put there.
Why Do I Need a Lawyer to Establish a Will or Trust?
In order for a will or trust to be legally valid, a lawyer must handle the documentation. A self-made will can be easily contested and a trust may not be upheld without proper legal documentation and witnessed signing. Be sure the care of your children and the distribution of your assets is carried out according to your wishes when you can’t be there.
Establish a will today with an experienced will and trust lawyer in Austin. Call Jason Katims at (512) 900-9769 to schedule a consultation.