Choosing The Right Will Or Trust
Everyone should have an estate plan, whether you are single or have a family, or if your estate is small or large. If you do not have an official plan, your property becomes intestate upon death. This means it’s under control of the state. The probate process will deduct fees and expenses, typically sharing your remaining assets among your closest blood relatives — who sometimes are not your closest relationships in your personal life.
The primary benefit of a will is control over your estate: Your wishes will be carried out, your heirs will be financially secure and you will reduce the cost and burden on your loved ones that probate creates. By working with an experienced attorney, you’ll be able to carefully define your wishes. David Scott Borger is a lawyer with 17 years of experience in asset protection.
Is A Will Or A Trust Right For Me?
Trusts and wills are two of the most common estate plans. Each has unique elements, but both allow for the distribution of assets to heirs under different circumstances. Generally speaking, a will is a document that determines distribution upon your death. A trust is a more complex arrangement that can control timing and allocation of distribution, and often reduces inheritance taxes. Both documents can also name guardians for minor children.
There are many different wills to choose from, and we can help you choose what is right for you and your loved ones based on your personal situation. Wills may be less detailed than a trust, and a will drafted in Texas is only valid in the same state. Depending on wealth, health care needs, your relationships and your political views, there are different plans to accommodate personal preferences.
Different will types include:
- Simple wills
- Tax plan wills
- Handwritten wills
- Living wills
For nearly 20 years, The Borger Law Firm PLLC, has helped Texans determine their needs and define how to distribute their property in a way that fits their core beliefs. We’ll advise you on the many options and find an estate plan that works for you.
A trust is an agreement that shares possessions with a grantor and beneficiaries by transferring ownership to a party entity. Trusts are complex arrangements that cover a variety of needs. A trust transitions ownership out of your hands and into the trust itself, which circumvents the probate process. How assets are distributed varies from trust to trust. You can allocate payments to a spendthrift heir, create concessions to care for a special needs family member and establish other parameters to your choosing.
At The Borger Law Firm PLLC, we’re your portal into the legal process.
Helping You Find The Right Plan
We will help you find the resources you need and utilize them to your advantage.
Wills and trusts are both complicated documents with different advantages. We’ll analyze your assets and help you make a choice that fits your goals and budget.
Contact Us For A Free Consultation
At The Borger Law Firm PLLC, our experience runs deep. We understand the complexities of each plan, and we will communicate the differences in terms you’ll understand. We work closely with our clients to make sure you’re satisfied and confident in your choices. We’re easy to talk to and we always keep your best interests in mind, not ours.