Executing Wills And Trusts

Two instrumental documents included in estate plans are Wills and Trusts. These two resources are vital in proactive estate plans, and are designed to ensure the financial security of living family members, asset protection and fulfill the wishes, needs and goals of the individual creating the estate. At Telschow Johnson Law PLLC, we thoroughly explain the functionality of all types of wills and trusts. We want to give you the knowledge needed to create an estate plan that is tailored to fit your individual needs and circumstances.

Understanding The Power Of A Will

A will is what our attorney refers to as a below ground document, because a will does not go into effect until the individual has passed on. The purpose of a will is to document your final wishes.

A will can do the following:

  • Detail how your property should be divided and whom you want to receive it
  • Name an executor
  • Appoint guardians for minor children
  • Define how debts and taxes will be paid
  • Leave a charitable donation or gift

A Last Will and Testament is an important aspect of any solid, forward-looking estate plan. An experienced and thorough attorney will help you clearly define beneficiaries and executors in your will.

Utilizing The Versatility Of A Trust

A trust is what our attorney refers to as an above ground document and below ground document, because it contains provisions that can be utilized when needed while the individual is still living; such as titling assets into a trust. The trust then can be used to distribute those titled assets when someone has died. Also, if an individual becomes ill, or suffers from Alzheimer's disease or dementia, the co-trustee can access the assets in the trust to help with financial matters.

A trust can do the following:

  • Hold assets and detail how they should be distributed
  • Make arrangements to provide for a loved one
  • Avoid out-of-state probate or limit probate
  • Maintain the privacy of your distribution plan
  • Allow a successor to manage your assets in event of incapacity

Respected legal counsel should walk you through these documents and give you the knowledge needed to make informed decisions regarding your legacy.

Advising You Through Every Step And Answering Your Questions

If you would like to learn more about protecting your legacy through estate planning, contact us today. We are here to speak with you about irrevocable trusts, revocable trusts, what makes a will valid and the benefits of each document, in order help you make the best possible decision for your future. Call our Fort Worth office at 817-653-8889 to set up an appointment with an experienced estate planning lawyer. We serve individuals and families throughout Tarrant County and surrounding areas in Texas.