One of the easiest and most important ways to care for your family after you pass away is to draft a will. It’s pointless to spend your lifetime providing for your children only to let the State decide who should care for them and where your money should go after your death.
Come to Law Office of Todd A. Wilson at 4425 S. Mopac Expressway, Bldg. IV, Suite 100 for expert advice. Call us at 512-827-9212 for a FREE consultation. We are a locally owned company founded in 2007. You can also schedule an appointment with us online.
An A-B Trust structure is used by married couples who want to reduce taxes on estate. This is done by both of them placing their assets into the trust and naming an external person other than their respective spouse as the beneficiary.
Wills are one of the fundamental tools we use for assigning guardians for minor children and for passing down our assets after our deaths. When you die without a will, the legal determinations are left for the State to decide. The State will then decide where your money will go. You might be wrong to assume that your children will receive the money. Why take the chance that some bureaucrat you have never met with will have the same plans as you do?
Online will forms start out to tailor everything to everyone and finally end up doing nothing. Don’t just check a few boxes on a standard form without knowing the legal and financial consequences, especially when you have a family, house or investments.
Online wills may be suitable for those without children, home or other assets. For all else, a much more careful and conscious approach is necessary. If you have created an online will, it’s time you assess its pros and cons with professional help.
Many think that estate planning isn’t required for them as they don’t own enough assets. Well, if you have minor children, you definitely would want to assign people to take care of them after your death.
If you possess a car or a house, you should make sure to whom all that goes when you pass away. Don’t let the State decide for you. The business you have been building all these years should stay with your family just as you would like to see it.