Preparing for the future in advance can make a big difference in the lives of your loved ones. To ease their burden during a difficult time, carry out these three things related to your estate:
Some people believe that they do not have enough assets to require a Will or Trust. However, people with modest assets are those who can afford to lose the least. Some people want a Will or Trust, but don't really want to think about it, or don't know who can help them. The estate planning attorneys at Badeaux & Associates located in Clear Lake, Texas have over 45 years of combined experience in drafting Wills, Trusts and Powers of Attorney. We provide continuity for generations. To read more about Powers of Attorney and directives to physicians click here.
An advantage of having a Will or Trust in Texas is that it gives you control of how your assets will be distributed and how your beneficiaries will be taken care of after your death. In a Last Will and Testament or Trust, you can name the beneficiaries of your assets and designate the persons who will manage your assets and care for any minor children. Further, having a Will or Trust avoids the problems of dying without a Will or Trust.
We welcome you to continue reading below about our estate planning services and to get answers to some frequently asked questions about Wills and Trusts in Texas.
Please call (281) 486-4737 or contact our estate planning attorneys located in Clear Lake online to find out how we can help you!
During your office conference with Badeaux & Associates for your Will or Trust and Powers of Attorney, Joanne M. Badeaux or Shelby G. Perrin will also advise you on beneficiary designations for your IRA’s, 401(k)’s, annuities, and life insurance policies. This is a significant portion of the meeting because beneficiary forms override your Will or Trust for that account. For many clients, 50% or more of their assets are controlled by beneficiary forms. The estate planning attorneys at Badeaux & Associates takes the appropriate time to coordinate your critical beneficiaries with your estate plan.
Beneficiary designations conflicting with the beneficiaries in your Will is the number one unexpected problem for estates after someone dies! Failure to coordinate your 401(k), IRA, and life insurance beneficiary designation forms with your Last Will and Testament can create devastating results like high income taxes, estate taxes, or unintended beneficiaries receiving proceeds.
All Wills and Trusts documents are not equal. Sometimes people are tempted to use a software program for their Wills and Trusts. Did you know that a disclaimer in Legal Zoom does or did reveal that 80% of people who fill in blank forms to create legal documents do so incorrectly? Some software companies that provide "fill in the blank" Wills and Trusts have lawyers; however, their company is not a law firm, most importantly it's not your Law Firm. A software algorithm cannot substitute the professional judgment of a lawyer who has a duty and obligation to you. Lawyers who work for do-it-yourself on-line Will drafting companies do not have privity of contract with you; therefore, they have no liability for giving you bad advice.
Many clients in the Clear Lake, League City, Friendswood and Deer Park areas have estates with a value of $500,000.00 - $3 million. Using an on-line company for your Will or Trust if you have assets of that magnitude may not be the best choice. Why? Because the backlash from using the internet for Wills and Trusts is that the mistakes are not known until the person dies. And the people left suffering with the consequences, confusion and time delays caused by the mistakes are likely the people the Will was trying to protect.
Located in Clear Lake, Texas, the estate planning lawyers at Badeaux & Associates have many clients who live in Clear Lake, League City, Friendswood, Pearland, Kemah, Seabrook, Dickinson, Deer Park and Pasadena, and other surrounding cities. We travel to estate planning clients who are unable to travel due to illness or difficulty with mobility. Feel free to give us a call at (281) 486-4737, or contact us online, to get started today!