We are all living in unprecedented times as the world grapples with a global pandemic called COVID-19. Whether you are thinking about small business succession planning or a simple Last Will and Testament to make sure your wishes are memorialized, The Jones Law Firm PC’s estate planning attorneys have years of experience drafting wills or revocable living trust documents, drafting a medical power of attorney or advance healthcare directive, preparing a durable power of attorney, or preparing other estate planning documents.
In addition to these personal documents, the estate planning attorneys at The Jones Law Firm PC can review corporate governance documents for contingency planning, make recommendations on changes to operating agreements and partnership agreements, and draft buy-sell agreements in case a member or partner passes away.
The law in Texas regarding possession of property upon death is clear: if the decedent executed a Last Will and Testament (“Will”), then the decedent’s property will pass to the beneficiaries, or devisees, under the Will. [For discussion on what happens when you pass away without a Will, see our firm’s blog post on that subject.]
Drafting and executing a Will according to the requirements of Texas law is a necessary step in order to best protect your assets upon your death and to ensure that your property does not get tied up in intestate succession (or escheat to the State). While it is tempting to avoid this topic or to use an online platform that promises inexpensive rates, an estate planning attorney can help you plan for contingencies specific to your situation and navigate any potential pitfalls. Every person’s estate (legal jargon for what you own and what you owe) is unique; therefore, every person’s estate plan should reflect their personal needs and wants. The estate planning attorneys at The Jones Law Firm PC stand ready to help effectuate your wishes with a simple, straight-forward plan and the estate planning documents to memorialize it.
DISCLAIMER: The foregoing information is not legal advice. It is general in nature and not applicable to all situations. The reader should not rely on these general statements and should consult with knowledgeable persons before taking any actions.