Explore offerings from Law Office of Monica R. Hennessey, PLLC on 1400 Broadfield Blvd. in Houston, with popular product and services available at this location.
Estate Planning is an ongoing process and should be started when reaching age 18. You should not wait until you have acquired a measurable amount of assets. As life progresses, goals shift, assets come and go, and relationships change, your estate plan should flex as well. An old estate plan can cause undue financial burdens to your friends and loved ones. You should review your estate plan every 2 to 3 years to account for changes in your life and the law.
Wills are specifically designed for the probate process. If there is a need for your estate to go through the probate process, a will can streamline the process and reduce attorney’s fees, court costs, and the time it will take to complete the process. It is important to speak to a professional who can guide you and make sure that the needs of your estate and family are met. There are many different types of trusts. A trust is an agreement between the settlor (the person(s) creating the trust) and the trustee (the person(s) that will be managing the trust) where the trustee agrees to hold property for the benefit of a beneficiary or beneficiaries. You do not need to be wealthy to receive the benefits of a trust. Each type of trust has its own benefits and requirements.
Probate is the Texas court process wherein the estate of a decedent,the person who has died, is administered. Probate can take place when there is a Will and when there is no Will. There are several types of probate Texas. Each type of probate has different pros and cons and not every estate will qualify for each type of probate. It is important to get advice from an attorney who has experience with probate and help you navigate through the seemingly complicated waters.
Trust Administration is the process where the successor trustee finishes business within the trust and distributes assets to the beneficiaries as designated by the terms of the trust. Even though your loved one has made their wishes known in the trust document, it can be difficult for successors to understand the process, especially if the successor has never managed a trust before. This firm’s goal is to provide you with quality trust administration services tailored to your specific needs and the goals of the trust.