Total Estate Value The value of your estate is determined by the value of assets held in your individual name, the proportionate interest of assets owned jointly by you with others, and the death benefit value of life insurance on your life. Assets can include but are not limited to real estate, retirement accounts, bank accounts, brokerage accounts, life insurance, business interests, and valuable jewelry and collectibles. The value of the assets in your estate will be fixed as the fair market value of the assets as of the date of your death.
Your Contact Details Your legal name is needed for your estate planning documents. This is your name as it appears on your driver's license, passport, or social security card.
Your Spouse Information Your legal name is needed for your estate planning documents. This is your name as it appears on your driver's license, passport, or social security card.
Children and Beneficiaries If your children are under the age of 25 a trust will be created in your will to provide for them. A trust created in a will is a “testamentary trust.” The testamentary trust does not exist until the person who created the will dies and the will is validated through the Texas probate process. The testamentary trust directs the trustee to manage the trust assets for the benefit of your children. The persons you name as Trustee will serve until your children reach the age of 30 after which your children will serve as Trustee of the trusts created for them until they reach a certain age. If your children are over the age of 25 you may choose to create trusts for your children or you may prefer to leave your estate to your children outright and free of trust. Back Next
Beneficiary Information Name beneficiaries if you have no children.
Children Select the options that apply to you. For children under 18, you will be required to select a guardian and trustee. If your children are over 18 or you do not wish to leave a trust, then you your children will receive your estate outright.
Guardians for Your Minor Children Guardian is a person who takes care of the physicall needs of your child until they turn 18. If you have step children, then the surviving bioligical parent is presumed to be guardian, unless their rights have been legally teminated. You can overwrite primary Guardian
Children Information Name your children and/or step children. Determine how to distribution your estate and when you would distributed.
Trustee A Trustee is the person who manages the assets held in trust for your spouse and or child(ren). If you give your estate to your spouse in trust (called a “marital trust,”) he or she will be named Trustee. If you do not create a trust for your spouse, if your spouse does not survive you, or upon the death of your spouse the successor Trustee(s) will manage the assets of the estate for the benefit of your children. We recommend you name at least two successor Trustees.
Statutory Durable Power of Attorney “A Durable Financial Power of Attorney authorizes one or more individuals (your agents) to manage your financial affairs on your behalf. This authority becomes effective immediately once the document is signed and remains in effect even if you become incapacitated.
You may choose to appoint the same individual(s) who serve as your Executor, or you may name different agents. If you are married, you may also indicate whether your spouse or life partner will have a different Power of Attorney.
List a Primary Agent and at least one Successor Agent who can act if the Primary Agent is unable or unwilling to serve. Agents may serve individually or jointly, depending on your selection.”
Statutory Durable Power of Attorney-Spouse/Partner Need Help?
• Durable Power of Attorney Agent: The person authorized to manage your financial matters and act legally on your behalf.
• Durable Authority: This Power of Attorney becomes effective immediately upon signing and continues even if you become incapacitated.
• Primary Agent: The first individual authorized to act for you.
• Successor Agent: An individual who will act if the Primary Agent cannot.
• Using the Same Agent as Executor: It is common to name the same person as Executor and Financial Power of Attorney agent.
• Joint Agents: If agents serve jointly, they must make decisions together. Choose this option only if the agents can work well together.
• Springing Power of Attorney: If you prefer authority to begin only upon incapacity, additional planning is required and is outside the scope of this tool.
• Assistance: If you have questions or encounter issues, contact our team at (565) 656-5656 or email info@pawillsonline.com or support@legalgen.com.
HIPAA Authorization and Medical Power of Attorney
Executor The Executor is the person appointed by the Probate Court to locate the deceased person's assets and deliver those assets to the beneficiaries as dictated by the Will. They have an obligation to the protect and preserve the deceased person's assets, pay the deceased person's debts, and expenses of the estate such as funeral and burial costs. The Executor's role requires some organizational and financial skills. You may want to consider naming someone who is good with finances knows when to get professional help to guide them so that they can make prudent and reasonable decisions. If you choose to have your agents serve jointly, your agents will have to make decisions together by majority decision. In choosing whether your agents should serve jointly, you should consider whether your agents would be able to get along and make decisions together. If you select that you would like your agents to serve jointly, the system will default to all three agents serving jointly. If you wish to have only two agents serve jointly and another agent to serve individually, please unselect the box next to the agent you wish to have serve individually.
HIPAA Authorization And Medical Power of Attorney-Spouse/Partner The Medical Power of attorney allows the person you name as your agent to make medically related decisions for you while you are alive. These powers become effective in the event of your incapacity. It is recommended that you name one primary (typically spouse/partner if married) and at least one successor.
Executor - Spouse/Partner The Executor is the person who administers the estate. Its common to have the same person be the Executor and Trustee" our Spouse will be your default Executor. You can name an alternative trustee should you spouse or primary trustee not survive and you can overwrite primary Executor.
Signing Your Documents: Texas law requires that certain parts of your health care documents be notarized and witnessed by two disinterested individuals. This means that the notary and two witness must not be an agent or beneficiary in your documents. If the documents are not signed properly, there is a risk that they will not be legally valid documents. To best assist you in making sure your documents are signed properly, we have designed two options that you can choose from to have your documents executed: Sign at our office You may choose to come to our office where our team will have all your documents printed and ready for your signatures. We provide the notary and two witnesses. All you have to do is schedule a time and come visit!
Engagement Letter Thank you for submitting your information. In order to become a client of our firm, please scroll to review our Engagement Letter. You will be emailed an executed copy and will be directed to our payment portal.