Frequent Scenario: Someone passes away. Their surviving spouse is told by the bank that they need “Letters” to access a bank account. Surviving spouse finds a lawyer online and asks her to draft the letter. Surviving spouse is then frustrated to learn that she doesn’t really need a letter from a lawyer – but has to go to court and get something from a judge. Surviving spouse is confused and intimidated by the terminology and doesn’t know what to do next.

So, lets discuss how to understand this common legal process in Texas.

Lets start with understand that the word “letters” can be misleading. In this situation, the word “letter” is not used to refer to correspondence or something you place in the mail but rather a certificate issued by a court specifying the identity of a person authorized to address the estate of a deceased person. In other words, a “letter” is a document that shows you have the legal power to deal with the property of the person who died. When you’ve been granted Letters by a court, you’re the person that banks, creditors, and others will communicate with regarding any assets or debts of the decedent because they will assume that you’re the person the Court has placed in charge of the of the estate.

To get letters, unfortunately, you can’t simply call a lawyer for them (because the lawyer can’t just draft one up). You can only be granted Letters by a court with jurisdiction over the deceased person’s estate. To get to court quickly, the best thing you can do is talk to a local attorney who has experience in probate law. Although the prospect of going to court can be daunting, the good news, however, is that most states (including Texas) have laws that allow for simple, low-cost probate in situations where either the deceased person left a valid Last Will and Testament that provided for independent administration of her estate or, in cases where there was no Will, where all of the people who will inherit agree the court should not be significantly involved.

In many cases, the probate process is easy and only requires a single, brief court hearing. Once you hire a lawyer, the lawyer can advise you as to what laws are applicable to your situation, where the probate application should be filed, and exactly what process should be followed. The lawyer can help you deal with the court, creditors, and even other people who will inherit from the estate. But, take caution, not every lawyer handles probate law cases. For simple cases, you can certainly work with lawyers who handle various types of cases but for more complex matters or cases involving substantial disagreement, you may choose to work with probate lawyers who concentrate in this area of the law.

Because not every case is identical and circumstances are very important, if you were told you need to obtain letters (usually by a bank or other financial institution), you should call an attorney to ascertain the best way to get Letters from the court and whether or not your case would require court supervision.

Weldy Law is available to help clients from all over West Texas work through important probate issues, obtain Letters from courts and navigate legal requirements. Weldy Law welcomes the privilege to assist you with estate planning and probate matters. Call us today for a complimentary consultation—806-928-2087.

The above blog is for informational purposes and is not intended to be legal advice.

Pet owners make a special commitment to their pets, but how do you address this commitment in your will? Pets are considered by law to be personal property, but to pet-parents, our animals are family. So how do you give your pets using a will? There are multiple options to arrange for the care of your pet such as a provision in your will or a pet trust.

One option is to include pets with remaining property in what’s often called a residuary clause. A residuary, clause, says most simply: all my remaining property goes to Person A. The person who inherits, your beneficiary, receives your pet along with your other property as part of the residuary clause.

Another option is to make pets a specific gift. You can name a specific person who will receive your pet. This person should be willing to accept the responsibility and if you have the resources, you might leave a sum of money to aid with the pets’ care and maintenance.

Trusts are also an option for planning for the care of your beloved pet, and a pet trust can be included in your will. A pet trust is a specific part of your will that describes in detail who you will name to be the caretaker and beneficiary, who will manage the money for the beneficiary, and who will supervise to ensure that the caretaker is correctly caring for the pet. A pet trust has restrictions and is legally enforceable.

With multiple options available to a pet owner, proper planning can allow you to rest easy knowing your furry friends will be cared for.

If you have questions concerning how to properly include a pet in your estate plan, contact Weldy Law, PLLC, to schedule a consultation today 806-928-2087.

The above blog is for informational purposes and is not intended to be legal advice.

The common view of estate planning is that one needs to have substantial assets or must be in their golden years before thinking about creating an estate plan. But as times change and cultures change, the traditional customs surrounding estate planning also change.

Estate planning is not limited to the wealthy or to the elderly.

Yes, we are talking to millennials; especially those who are in their thirties.

Millennials must understand that life-changing events can happen to them at any time and that these events may stir questions about their estate just like baby-boomers who are newly retired.  So, millennials should think about what they need in order to protect their families as well as newly acquired assets. More millennials are getting married at this age, some may already have children, and others stand to inherit money from their parents and grandparents. All of these events establish the need for an estate plan that fits ones lifestyle and goals.

Truly, it is understandable that you may not have a large estate worth millions, but as we mentioned earlier, being a millionaire is not required to have a customized estate plan.  You could simply begin with a Will that details how your most important possessions should be distributed. If you have children, a Declaration of Guardianship will establish who should care for your minor children if something were to happen to you.

For many, simplicity begins with a durable power of attorney.  This document gives someone you select and trust the authority to make financial decisions in the event you are incapacitated.

Millennials have a number of options available to protect the people they love and pass on a legacy, even if they don’t have the type of estate they dream of having just yet. A customized estate plan can be both affordable and a way to establish confidence about your future.

Want to get started on a customized estate plan to fit your lifestyle? Call Us today 806-928-2087!

The above information is not legal advice.

Obtaining a full estate plan can be quite a task. One of the most difficult parts of having an estate plan drafted is deciding what you want to be included. For example, do you need a power of attorney, a living will or possibly both? Plenty of Texans don’t know the difference between the two documents and that makes it harder to make an informed decision on what to include in your estate plan to fit your lifestyle.

A Power of Attorney (POA) and a Living Will actually serve two very different purposes. A POA gives a named individual the authority to make decisions on one’s behalf in the event of incapacitation. A Power of Attorney can be created for finances and for health care. When creating an estate plan, you can name one individual as the POA for health care decisions and another individual for financial decisions.

In contrast, a Living Will does not give authority to someone to take over your affairs if you become incapacitated. Rather, a Living Will is a document that provides direction. It provides information about your wishes for what health care measures your prefer.

Well, what should you do? Do you need a POA or a Living Will or both? In Texas, residents can benefit from both, however some may find that they really only need one or the other. An experience estate planning attorney can help provide clarity as to which legal document will fit your lifestyle best and help you make an informed decision on which to include in your estate plan.

Are you ready to create a personalized estate plan? Call Weldy Law at 806-928-2087 for your free initial consultation today!

Guardianship: When Your Loved One Needs a Guardianship & Methods to Proactively Avoid a Guardianship

Under Texas law, a guardianship is created through a court-administered person designated to take care of a minor or incapacitated person and their property interests. Guardianships are most needed when a loved one loses capacity to make their own decisions for various reasons. Sometimes the loss of capacity occurs when there is a catastrophic injury such as a car accident or stroke. And sometimes a progressive disease that can accompany advanced age like Alzheimer’s or some other form of dementia can be the causal factor in needing a guardianship. Often people don’t understand that their spouse or adult aged children will not be allowed to step in and make medical and financial decisions for them if they lose the capacity needed to make these decisions on their own.

When proper planning has not been put into place, options are limited. Sometimes the only route is to seek a guardianship for the loved one who is no longer competent. Guardianship is expensive because the person seeking the guardianship must hire an attorney to represent her before a judge and prove that the proposed “ward” (the person who is no longer competent and can no longer make decisions on his own behalf) is truly in need of a guardian. Additionally, the court must appoint an attorney to represent the interests of the proposed ward, called an ad-litem, to make sure that the rights of the person (the proposed ward) are protected. This creates added expense because the person seeking guardianship to take care of Mom or Dad now must pay expenses of two attorneys.

The costs don’t end there. In addition to the expense of attorneys and time associated with a legal battle, if Mom or Dad didn’t create a valid guardianship or power of attorney while competent, you as the proposed guardian must account for how you spend every single penny of Mom’s money. The court must require you to make these accountings because you’ve forced an arrangement on Mom that has taken her rights away. The court may have decided that you are suitable to make all of Mom’s medical and financial decisions on her behalf but it must also hold you accountable. This accountability is accomplished through requiring you to track expenditures of Mom’s money and annually report the reasoning behind each financial expenditure.

Now, this extensive procedure can be avoided. If Mom and Dad had taken a proactive approach to Estate Planning and signed a valid durable financial power of attorney and a medical power of attorney while still able, naming the person they want to act on their behalf, all of this time, expense and accounting could be avoided.

Life is fragile. And no one knows the future but- the unthinkable could happen- a car accident, a stroke, or other severe injury could leave us without the ability to make our own decisions. And some progressive degenerative diseases can cause an individual who is currently capable to make decisions to have a dramatic drop in capacity over a short time span. Power of Attorney documents can protect you by making sure that the person you wish to make decisions on your behalf is in fact the person who has the authority to make those decisions for you. There are many different methods that can be used to accomplish this goal. The financial power of attorney needs to have very specific language (not like those found on the internet) to allow your agent the maximum latitude to help protect your finances and to pay for your healthcare and medical expenses should you have a need for extensive care from an injury or progressive illness.

Be proactive. Protect yourself, your wishes, your assets and your loved ones by establishing a complete Estate Plan.