Common Misconceptions about Wills and Trusts
Once you have built an estate for yourself, you should be certain that you have created a will or trust to ensure the proper distribution of your assets in the event of your death. Without a will, your wealth will be distributed in accordance with the probate laws of the state in which you live.
In order to protect your assets and ensure the financial security of your family and loved ones, consult an experienced Houston will and trust attorney from the law offices of Garg & Associates, P.C. to help you create a living will or trust. Call 281-362-2865 today to schedule a free initial consultation.
Common Myths and Misconceptions
Due to the legal jargon and red tape involved in the making and validation of a will, many people consult attorneys to assist them with the process. Some common misconceptions about living wills and trusts include:
- Wills prevent probate. This is not true; the purpose of a probate is to validate a will and ensure that its instructions are followed.
- Living trusts revoke your control over assets. This can be avoided if you name yourself both trustor and trustee – then you will have complete control over all aspects of the trust.
- If you have a living trust, your assets are protected against lawsuits. Protections from lawsuits only apply after the trustor has passed.
- Once you pass, your assets are protected from creditors. This is not the case; creditors can still file a claim even if you are deceased.
The laws surrounding wills and trusts are complex and can seem confusing. In order to ensure the validity of your will, consult a professional Houston probate attorney about your estate.
Contact us
For more information about how to create a living will or trust, contact Houston will and trust attorneys Garg & Associates, P.C. by calling 281-362-2865 today.
