Estate Planning in TEXAS
Estate Planning
Emphasis on Revocable and Irrevocable Trusts
Are you ready to "get your affairs in order"? HC Law is here to help. From our self-acclaimed "Brunch With a Purpose" to our partnerships with over 50 churches in the state of Texas – named "The Power of Twelve" – the HC Law Firm is proud to have educated over 100 families in 2023. We look forward to helping over 1000 families in 2024 understand the importance of having an All-Inclusive Will Package or, more importantly, a Trust.
What is an All-Inclusive Will Package, and what does it include?
Firstly, the proper or legal name for this package is a Will Advisor Package. It includes all the necessary documents for an individual or their heir to make decisions on their behalf when they are unable to do so, either while alive but incapacitated or after passing away. Here is the list of documents included:
In addition to the Will Advisor Package, it's crucial to consider a Trust or Legacy Trust, which provides extensive instructions for the trustee to manage the assets for the benefit of the heirs or beneficiaries. The Trust assures the trustor that assets will be distributed or protected according to the trustee's wishes. Trusts are private instruments and have the authority to avoid probate. A Trust may hold ownership of assets such as a home or property, business, insurance policies, and bank accounts. A Trust also includes an All-Inclusive Will Package as well.
- Revocable Trust - Also known as a Living Trust, this can be altered occasionally while the trustor is alive.
- Irrevocable Trust - Also called a Testamentary Trust, this is a trust that cannot be changed.
