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You are here: Home / Legal Blog / What Everyone Should Know About Texas Wills and Estate Planning

What Everyone Should Know About Texas Wills and Estate Planning

June 11, 2012 By Kalish Law Office

What’s the first thing that you think of when someone asks you why you should have a will or estate plan in place?    “To protect my family”, someone might answer.  “To name a guardian for my child,” someone else might say.   Someone else might answer, “My attorney helped me with a combination business plan and estate plan so that my personal assets were protected and separate from my business assets.”

All of the answers are correct!  Here are the main reasons why it is important to plan:

1.       So that spouse/family/domestic partner/ friends/ charity will inherit from   you

2.       So that your beneficiaries can get valid legal title to your property

3.       To allow you to distribute your property as you see fit, to whom you see fit

4.       As part of an overall asset protection plan

5.       To choose a guardian for your minor children

6.       To minimize tax consequences for your beneficiaries

7.       To provide for the continuing needs of a family member by use of a trust

A will or estate plan may have several goals, and it is important that the overall plan is consistent with those goals. 

Whether an estate is very large or very small, there are very good reasons to have a valid will and to be certain that the proper legal procedures are carried out in order to transfer the title to the property when someone dies.   In some cases, real property is “informally” passed along, with the family agreeing on who lives in the property and pays the monthly bills. Several years later (after many of the original heirs have died and there are 2 or 3 generational levels to deal with) the family may want to sell the property.  At that point, it can be complicated to determine legal ownership, locate everyone and complete all the documentation that results in the property sale and distribution of funds.  In this case, the family saved legal fees in the past, but may pay quite a bit in legal fees and costs later on.  

However, it is important not to create a complicated plan when a simpler one will do!  If a simple will meets the important goals, that’s what should be used!  An estate planning attorney give you advice as to the best and most efficient plan to use, and can also review current documents and tell you whether it is advisable for you to update them.

“Passionate, Professional and Personal. We Make the Difference.” Kalish Law Office has been serving businesses and families since 1984.

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Filed Under: Legal Blog Tagged With: asset protection, Attorney Bob Kalish, Conroe Probate court, decedent, domestic partners, estate planning lawyer, estate taxes, Interstate succession, Kalish Law Office, Probate and deeds, selling probate property, surviving spouses, Texas probate, Texas wills and trusts lawyer, The Woodlands Texas Law Blog, The Woodlands wills and trusts lawyer, wills and trusts

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Kalish Law Texas

3 Grogan's Park Dr.
Ste. 200
The Woodlands, Texas 77380
Phone: 281-363-3700

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  • Practice Areas
    ▼
    • Family Law
    • Divorce
    • Divorcio
    • Adoption: International and Domestic
    • Collaborative Divorce
    • Wills, Estate Planning and Probate Law
    • Business Law
    • Legal Services for Health Care Professionals
    • Real Estate Law
    • Criminal Law
  • Mediation
  • Our Team
    ▼
    • Bob Kalish
    • Sio Ramirez Pitre
    • Laura Kalish
    • Samantha Malfitano
  • Legal Blog
  • Contact Us