Estate Planning / Wills and Trusts

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We Are Here To Help Plan And Protect Your Estate

At COTTS LAW, we value the time and priorities of our clients. We believe that it shows clearly in the results we strive to achieve with you and your loved ones.

Call An Estate Planning Lawyer Right Away

With our extensive knowledge of state and federal law, you can rest assured that you are in good hands in dealing with us. In Corpus Christi, you can work with an experienced estate planning attorney for Wills and Trusts. COTTS LAW can also guide you through each step of the probate process. Any estate issues will be handled with care, professionalism according to the Business Laws.

Let our high ethical and moral standards be a shoulder to lean on whenever you are unsure of how to approach these matters. Our team in Corpus Christi is ready to help you with all probate and estate planning needs you may encounter.

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What Are The Benefits Of Estate Planning?

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Protecting your assets in the event of your death, a lawsuit against you, a divorce, and avoiding a significant amount of estate taxes.

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Appointing personal representatives to manage your affairs fitting your wishes and instructions.

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Ensure that your loved one with special needs is provided for and receives their inheritance and government aid.

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Estate Planning / Wills and Trusts at COTTS LAWCotts

At COTTS LAW, our commitment is to provide thorough and compassionate support for all your estate planning needs. Based in Corpus Christi, TX, we specialize in helping you navigate the complexities of estate planning, wills, and trusts to ensure your wishes are met and your assets are protected. Our approach is tailored to meet your unique needs and priorities.

Why Estate Planning is Essential

Asset Protection

Proper estate planning helps protect your assets from potential risks, including lawsuits, divorce, and significant estate taxes. By creating a well-structured estate plan, you can shield your wealth from unexpected legal and financial challenges. Additionally, we implement strategies to minimize estate taxes, ensuring that your assets are distributed in the most tax-efficient manner possible.

Personal Representatives

A key aspect of estate planning is designating personal representatives or executors who will manage your affairs according to your instructions. This ensures that your estate is handled efficiently and in alignment with your wishes. Our team provides expert guidance through the probate process, ensuring that all legal requirements are met and that your estate is administered smoothly.

Special Needs Considerations

If you have loved ones with special needs, we help create trusts and other planning tools to ensure they are provided for and continue to receive necessary government aid and support. We tailor your estate plan to address the specific needs of your family members, ensuring their financial security and well-being.

Our Services

Wills and Trusts: We assist in creating wills that clearly outline your wishes for asset distribution, guardianship of minor children, and other important matters. In addition, we help establish various types of trusts, such as revocable living trusts, irrevocable trusts, and special needs trusts, to manage and protect your assets according to your desires.

Probate Process: Our experienced team will guide you through each step of the probate process, from filing the will with the court to distributing assets and resolving any disputes that may arise. We handle probate matters with the utmost care and professionalism, ensuring that all legal requirements are met and that your estate is administered in a timely manner.

Understanding Wills

A will is a legal document that outlines your wishes regarding the distribution of your assets and the care of any minor children after your death. It is a fundamental component of estate planning, ensuring that your estate is handled according to your desires. Here are the key aspects of wills:

Purpose of a Will: A will specifies how your assets, including property, finances, and personal belongings, should be distributed after your death. It allows you to appoint executors to manage your estate and ensure that your wishes are carried out. Additionally, if you have minor children, you can designate guardians to care for them.
Types of Wills:

Simple Will: Outlines straightforward distribution of assets without complex stipulations.
Testamentary Trust Will: Creates a trust that comes into effect upon your death, providing specific instructions for managing and distributing assets to beneficiaries.
Living Will: Although not a traditional will, it provides instructions regarding medical care and end-of-life decisions.

Creating a Will: Creating a will involves several steps:

Inventory Your Assets: List all your assets, including property, bank accounts, investments, and personal items.
Choose Beneficiaries: Decide who will inherit your assets. This can include family members, friends, charities, or other organizations.
Appoint Executors: Select individuals you trust to carry out the instructions in your will. Executors manage the distribution of your estate and ensure all legal obligations are met.
Designate Guardians: If you have minor children, appoint guardians to care for them in the event of your death.
Draft the Will: Work with an attorney to draft the will, ensuring it meets legal requirements and accurately reflects your wishes.
Sign and Witness: The will must be signed and witnessed according to state laws to be legally binding.

Importance of a Will: A will provides clarity and direction, reducing the potential for disputes among surviving family members. It ensures your assets are distributed according to your wishes rather than state intestacy laws, which apply when someone dies without a will. Additionally, having a will can expedite the probate process, making it easier for your executors to manage your estate.

Updating a Will: It is important to review and update your will regularly, especially after significant life events such as marriage, divorce, the birth of a child, or the acquisition of new assets. Updating your will ensures it remains accurate and reflects your current wishes.

Legal Assistance: While you can create a will on your own, working with an experienced estate planning attorney is recommended. An attorney can provide guidance, ensure your will complies with state laws, and help address any complex issues.

At COTTS LAW, we offer comprehensive will drafting services, ensuring your estate plan is thorough and legally sound. Contact us today to secure your assets and provide peace of mind for you and your loved ones.

Understanding Trusts

A trust is a legal arrangement in which one party, known as the trustee, holds and manages assets on behalf of another party, known as the beneficiary. Trusts are versatile estate planning tools that offer various benefits, including asset protection, tax planning, and control over asset distribution. Here are the key aspects of trusts:

Purpose of a Trust: Trusts serve multiple purposes in estate planning. They can provide for the management and distribution of assets during and after your lifetime, protect assets from creditors, minimize estate taxes, and ensure that your beneficiaries receive their inheritance according to your specific instructions.

Types of Trusts:

Revocable Living Trust: This type of trust can be altered or revoked by the grantor (the person who creates the trust) during their lifetime. It allows for the seamless transfer of assets upon the grantor’s death, avoiding probate.
Irrevocable Trust: Once established, this trust cannot be modified or revoked. It provides significant tax benefits and asset protection, as the assets are removed from the grantor’s taxable estate.
Testamentary Trust: Created through a will, this trust comes into effect upon the grantor’s death. It is used to manage and distribute assets according to the terms specified in the will.
Special Needs Trust: Designed to provide for a beneficiary with special needs without affecting their eligibility for government benefits.
Charitable Trust: Established to benefit a charitable organization while providing tax benefits to the grantor.
Spendthrift Trust: Protects the trust assets from being claimed by the beneficiary’s creditors and controls how and when the beneficiary can access the funds.

Creating a Trust: Creating a trust involves several steps:

Determine Your Goals: Identify the purpose of the trust, the assets to be included, and the beneficiaries.
Choose a Trustee: Select a reliable individual or institution to manage the trust. The trustee has a fiduciary duty to act in the best interests of the beneficiaries.
Draft the Trust Document: Work with an attorney to draft the trust document, which outlines the terms and conditions of the trust, including how and when the assets will be distributed.
Fund the Trust: Transfer ownership of the chosen assets to the trust. This may include real estate, investments, bank accounts, and other valuable items.
Sign and Formalize: The trust document must be signed and notarized according to state laws to be legally binding.

Benefits of a Trust:

Avoiding Probate: Assets held in a trust bypass the probate process, allowing for a quicker and more private transfer of assets to beneficiaries.
Asset Protection: Trusts can protect assets from creditors, lawsuits, and divorce settlements.
Tax Planning: Certain types of trusts can reduce estate and gift taxes, preserving more of your wealth for your beneficiaries.
Control Over Distribution: Trusts allow you to specify conditions for distributing assets, such as age milestones, educational achievements, or other criteria.
Continuity of Management: A trust provides for the continuous management of assets if you become incapacitated, ensuring your affairs are handled according to your wishes.

Legal Assistance: While it is possible to create a trust on your own, it is advisable to work with an experienced estate planning attorney. An attorney can help you choose the right type of trust for your needs, draft the trust document correctly, and ensure that your trust complies with state laws.

At COTTS LAW, we offer comprehensive trust planning services to help you protect your assets and provide for your loved ones. Contact us today to discuss your estate planning needs and explore how a trust can benefit you.

Why Choose COTTS LAW?

Expertise and Experience: With our deep understanding of state and federal laws, you can trust that your estate planning needs will be addressed with the highest level of expertise. We prioritize your time and needs, providing personalized attention and clear communication throughout the estate planning process.

High Ethical Standards: We uphold the highest ethical and moral standards, offering a reliable shoulder to lean on during what can be a complex and emotional process. Our approach is centered on your best interests, ensuring that your estate plan reflects your goals and provides peace of mind.Additional Services:

Tax Attorney: For issues related to tax relief and tax planning.
Business Law: For legal assistance with business-related matters.

Disclaimer: The information on this website is for general purposes only and does not constitute legal advice. No attorney-client relationship is created through the use of this site.