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A will – or a ‘last will and testament’ – is a legal document that tells the probate court how you want your property distributed after you die, and who has the power and responsibility to wrap up your affairs.
There are many different types of trusts that can be setup to financially help a relative, support a charity, or even protect your pet if you should pass away.
A Special Needs Trust is a trust that can supplement the needs of a special needs beneficiary while allowing the beneficiary to maintain his or her governmental benefits, including Supplemental Security Income (SSI), Social Security and Medicaid.
Deciding who will become the guardian of a special needs adult is often a difficult decision. But it is very important, because without a guardian, the court will have to appoint someone without knowing their wishes, the children or other family members.
Probate is a court-supervised process for distributing the individually owned assets of a deceased person. Assets are distributed to beneficiaries in accordance to the instructions written in the person’s will, or according to Texas law if the person died without a will.
From the Weeks Law Firm Blog