Wills & Trusts

Drafting Effective Wills

A last will and testament is the foundation of an estate plan. While it is far from the only estate planning document you may need, a will is often the document drafted first. There are different purposes of a will, including:

• Naming beneficiaries and their property distributions
• Choosing someone to be your child’s legal guardian if necessary
• Designating a person to serve as the executor of your estate

Wills are submitted to the probate court when you pass away, and this document allows you to dictate what happens to your estate instead of the court. If you pass away without a will, your property will be distributed in accordance with Texas law, and the court will appoint an executor and a guardian for your kids when needed. Having a will not only allows you to control what happens, but it can reduce the opportunity for conflict between family members and unnecessary costs or delays during probate.

The Benefits of a Trust

While a will can make the probate process easier, having a living trust can work to keep your property from going through probate in the first place. Trusts also have many other benefits, including:

• Preventing lump sum inheritances to young people or others who might not be financially responsible
• Adding conditions to distributions, such as educational achievements
• Shielding assets from the creditors of your beneficiaries
• Certain trusts allow you to set up support for adult children with special needs without affecting their eligibility for government benefits

Creating a trust involves choosing a successor trustee who takes over after you pass away, drafting the trust document that instructs the trustee what to do, and transferring your property into the trust. You can still access and manage the trust property while you are living, as you will be the trustee. 

Contact an Austin Wills and Trusts Lawyer to Discuss Your Options

It is important that wills and trusts are created to comply with Texas law, so you know your estate plan is valid and enforceable. The estate planning attorneys at Kirker Davis, LLP, can help you draft your will, create your trust, and execute any other estate planning documents, such as powers of attorney. Contact us to set up an appointment with our team to learn about the many ways a properly-created will and a trust can benefit you and your family.