FAQS

Yes, everyone should have a will regardless of the size of their estate. A will allows you to name guardians for minor children, specify how you want your assets distributed, and name an executor to handle your affairs. Without a will, Texas intestacy laws determine how your assets are distributed, which may not align with your wishes. Even modest estates benefit from the clarity and direction a will provides.

Whether you need to probate a will depends on the type and value of assets in the estate. In Texas, probate is typically required for assets that are solely in the deceased person's name. However, assets with beneficiary designations, joint ownership, or held in trust may avoid probate. Consulting with an attorney can help determine if probate is necessary for your specific situation.

Probate costs in Texas vary depending on the complexity of the estate. Typical costs include court filing fees, attorney fees, executor fees, and appraisal costs. Attorney fees are usually based on a percentage of the estate value or hourly rates. Simple estates may cost $3,000-$8,000, while complex estates can cost significantly more. We provide transparent fee structures and can estimate costs for your specific situation.

Whether you need a trust depends on your specific circumstances. Trusts can help avoid probate, provide privacy, protect assets from creditors, and offer tax advantages. They're particularly beneficial for larger estates, blended families, or when you want ongoing management of assets for beneficiaries. However, trusts are more complex and expensive to establish than wills. We can help determine if a trust is right for your situation.

Generally, you are not personally liable for the deceased person's debts unless you co-signed on the debt or are a joint account holder. Debts are typically paid from the estate assets before distribution to beneficiaries. If the estate doesn't have sufficient assets to pay all debts, creditors may not be able to collect the remaining balance. However, there are exceptions, and it's important to consult with an attorney to understand your specific situation.

Common mistakes include: not having proper business formation documents, failing to maintain corporate formalities, mixing personal and business finances, not having buy-sell agreements, inadequate insurance coverage, and poor record-keeping. These mistakes can expose business owners to personal liability, tax issues, and legal disputes. Proper legal guidance can help avoid these pitfalls and protect your business.