A small estate plan is a plan that does not require tax planning and does not include a trust. If you believe you need either tax planning or a testamentary trust, please let us know.
This questionnaire asks for personal and sensitive information from you. The information you provide in this document is considered both privileged and confidential attorney-client communication. Texas law provides you distinct attorney-client protections regarding the information you provide in this questionnaire, even if you do not retain the services of our firm or attorneys.
Please take the time to complete this questionnaire carefully. Feel free to contact us at 817/877-3355 with any questions.
A Last Will and Testament (also known as a Will) is a legal document that allows you to say exactly what you want to happen to your assets and minor children after death. It also allows you to nominate an executor, who will manage your estate, pay your debts, expenses, and taxes, and distribute your estate according to your wishes. This legal document allows you to make decisions on how your estate should be handled after your death; otherwise, the state will have to get involved and your wishes may not align with the decisions made by the state.
Do you have any specific bequests? * A specific bequest is a gift or specific item or asset that you want to leave to a specific person or entity. For example, you can provide that your Rolex is to go to your son John Smith, that your house be left to the Red Cross, or that each of your three nieces receives $10,000.00. If you select "yes" provide a description of the bequest in the first column, the name of the recipient (person or entity) in the second column, and the person's relationship to you (if applicable) below. Using the example above, put "Rolex" in the first column, "John Smith" in the second column, and "son" in the third column. You can have as many specific bequests as you would like.
How do you want the remainder of your estate to be divided? * The remainder of your estste is all of your assets combined excluding any assets listed as a specific bequest above, if applicable. You need to make a selection below. Information regarding the selections is listed below.
Executor Information. * You must name an executor (or executrix). The executor is an individual appointed to make sure the provisions in your will are properly handled when you die. The executor is responsible for making sure all assets in the will are accounted for, along with transferring these assets to the correct party (parties). Being an executor is a big responsibility and you should name someone who is responsible and will honor your wishes.
The executor/executrix can be almost anyone but is usually a lawyer, accountant, or family member, with the only restriction being that he or she must be over the age of 18 and have no prior felony convictions. Your spouse can act as your executor. The executor can also be a corporation (corporations will normally charge fees). It is generally best to pick an executor that is local.
You can name more than one executor/executrix. If name more than one person, each will act as a co-executor. If you want to have co-executors, make sure the co-executors can work together.
To complete, please list the full name of the executor/executrix in the first column, the executor's gender, and the executor/executrix's address. You can name more than one executor/executrix. You can name more than one person if you want to have co-executors.
The executor can be almost anyone but is usually a lawyer, accountant, or family member, with the only restriction being that he or she must be over the age of 18 and have no prior felony convictions. The executor can be a corporation (corporations will normally charge fees). It is generally best to pick an executor that is local.
Do you want to name a successor executor?. * You can name a successor executor (or executrix). The successor executor is an individual that will take the place of the executor if the executor cannot act as the executor of your estate or refuses to act as the executor. You do not have to have a successor executor, although it is recommended.
If you want to name a successive executor (or executrix), please answer "yes" and list the full name of the executor/executrix in the first column, the executor's gender, and the executor/executrix's address below. You can name more than one successor executor/executrix. Leave this blank if you do not want to name a successor.
Do you want your executor to be compensated? * You can select whether the executor is compensated. If you select "May receive customary fees" below, the executor is entitled to receive a 5-percent commission on the amounts they obtain and disburse in cash (this generally excludes a commission on money you had on hand at the time of death; money held in a checking, savings, or money market account; life insurance proceeds; and bequest payments made to beneficiaries). If you select "Serve without commission," the executor will not receive a commission but will be reimbursed for any expenses incurred.
Do you want to name a guardian for a minor child? * A guardian is someone who you name be the caregiver to a minor child or children in the event you are the last surviving parent or guardian. You can name a single person or a couple. If you name a couple, they will act as co-guardians. You can also appoint a successor guardian or guardians in the event that the appointed guardian(s) are unable or refuse to serve. If you answer yes, name the guardian(s) in the first field below and successor guardian(s) in the second field.
Do you want to include a contingent trust for a minor beneficiary? * A contingent trust is a trust which designates an age or ages that a minor beneficiary will be able to receive their portion of your estate. The contingent trust protects the assets you set aside for the minor beneficiary from the appointed guardian's creditors and allows the trustee to use the money for customary expenses. The remainder will be distributed upon a certain age or ages (preferably after the child has matured enough to handle the inheritance).
Who do you want to name as a trustee for the contingent trust? * You need to name a trustee to manage the contingent trust. The trustee will manage and distribute assets used for the comfort, care, and education of your minor beneficiaries until they have attained a specified age. You can name more than one trustee. If you have named a guardian for your minor children, the trustee can be the named guardian(s). You can also appoint a successor trustee or trustees in the event that the appointed trustee(s) are unable or refuse to serve. Name the trustee(s) in the first field below and successor trustee(s) in the second field.
Do you want a no-contest clause? * A no-contest clause is a provision in the will that prohibits a beneficiary from taking any portion of your estate if the beneficiary contests the will (unless a court determines the contest was made for just cause and in good faith).
Your healthcare information is protected, meaning healthcare providers cannot release your medical information without a release. A HIPAA Release is a legal document that permits someone you authorize access to your personal medical information.