Estate Planning
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Having a well drafted will may be the most important gift you can give your family. Not only does a will allow you to decide how your estate is distributed upon your death, but it lets you decide who will take care of your minor children. Wills greatly reduce the time and cost of probating your estate, so that more of your assets go to your heirs. Finally, a well drafted will allows you to decide who manages the affairs of your estate after your death and, as necessary, who will manage a trust for the benefit of your minor children until they become adults.
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ProbateAfter a loved one passes, it is often necessary to probate their estate. Probate is the process where the deceased outstanding debts are paid and their remaining assets (i.e. their personal and real property) are distributed to their heirs. In most situations, the statutory probate court or county court-at-law in the county where the deceased lived monitors the probate. The amount of court supervision depends on a number of factors including, the size of the estate, whether a spouse survives the deceased, and whether the deceased had a well-drafted will.
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GuardianshipA guardianship is a legal proceeding assigning a guardian for an incapacitated person (the “ward”) to manage their person, estate or both. The ward may be a minor whose parents are deceased or otherwise unavailable to take care of the child or an adult who is unable to manage their financial or personal affairs. In determining whether a guardianship is necessary, court’s consider (1) the extent of the ward’s incapacity, (2) the necessity of the guardianship, and (3) the most appropriate person to be appointed guardian applying a “best interest of the ward” standard.
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