Frequently Asked Questions
Common Questions: General
No. Lawyers use the same software we do. Taking out the middleman can save you hundreds of dollars. Complex estate planning would require a lawyer.
| Document | Price |
|---|---|
| Will | $225 |
| Durable POA | $40 |
| Medical POA | $40 |
| Directive to Physicians/Living Will | $40 |
| Transfer on Death Deed | $200 |
The Easy Will™ system is not appropriate for all individuals and should not be used in the following situations:
- If you have more than $1 million of assets (because of estate tax and income tax considerations).
- If you want to create a trust in your Will.
- If you have children (or other beneficiaries) with special needs who qualify for or may be entitled to government assistance.
- If you are not a Texas resident or United States citizen.
A previous will is automatically revoked when a subsequent will is executed.
The Texas Estates Code describes a decedent's heirs in the event someone dies without a Will. The Estates Code is confusing, but thankfully Judge Herman has summarized the applicable Estates Code sections in this great Texas Descent and Distribution chart.
Of course. Many of our customers desire only a Will and do not pay for the Durable Power of Attorney, Medical Power of Attorney, or Living Will/Advance Healthcare Directive.
Common Questions: Wills
The testator is the person signing the Will (the one making gifts of his/her property to be effective upon his/her death).
The executor is the person who will administer/handle your estate when the Will is probated. Read more about How To Choose an Executor.
The executor collects assets, pays valid debts and distributes the assets in accordance with the Will.
An alternate executor is the person you would like to serve as the executor should the primary executor not be able to serve.
The executor is usually a spouse, an adult child or a trusted family member. The executor does not have to have legal or financial experience and does not need to reside in Texas, but the executor canNOT be a convicted felon. Typically, our customers will provide a copy of the Will to their executor. You want to make sure you trust the executor to perform your wishes as found in your Will without supervision.
Yes.
You are legally married until the judge signs the divorce decree. It is acceptable to prepare a Will before your divorce is final. If you prepare a Will before your divorce in final, you can either (a) answer the questions as if the divorce is final (if you do this make sure you do NOT sign the Will until the divorce is actually final) or (b) direct that your current wife is not to receive anything (if that is your desire).
When you elect to give a gift to your "descendants", we must further define the term "descendants" so we know how to calculate what percentage of the estate each descendant should receive. The term "hybrid per stirpes" means the distribution to the descendants will begin with an equal division at the next generation that has a living member. One share will be distributed to each such living member, and the share for each deceased member will be further divided in the same manner. If you leave two deceased children, and one of them had one child, and the other had two children, the property would be divided into three equal shares for the grandchildren.
When you elect to give a gift to your "descendants", we must further define the term "descendants" so we know how to calculate what percentage of the estate each descendant should receive. The term "strict per stirpes" means the distribution to the descendants will begin with an equal division into shares at the child level, whether or not a child is living. One share will be allocated to each surviving child, and one share will be allocated to each deceased child who left surviving descendants. Each share for a deceased child who left surviving descendants is divided in the same manner, with subdivision repeating at each succeeding generation until the property is fully allocated. For instance, if a person has two deceased children, and one of them had one child, and the other had two children, the grandchild who is the only child would receive 1/2, and the other two grandchildren would each receive 1/4.
When you elect to give a gift to your "descendants", we must further define the term "descendants" so we know how to calculate what percentage of the estate each descendant should receive. The term "per capita at each generation" means the distribution to the descendants will begin with an equal division at the nearest generation to your client (or the relevant person) that has a living member. One share will be distributed to each such living member, and the share or shares passing to the deceased members will be combined and then divided and allocated among the surviving descendants of the deceased descendant(s) as if the surviving descendants who are allocated a share had died without descendants. For instance, assume a person has three children: C1 with one child; C2 with three children, and C3 with no children. C1 and C2 are not living. C3 would inherit 1/3, and each of the four grandchildren would share the remaining 2/3 equally, with each receiving 1/6.
Yes, you cannot gift the following assets:
- Some one else's property (i.e. your spouse's property)
- Life insurance proceeds, retirement funds, or an annuity when a beneficiary has already been designated.
Common Questions: POA
Power of Attorney
Generally speaking, a Power of Attorney is a document in which one person (the Principal) appoints another person (the Agent) to take certain actions. In a Medical POA, for example, the Agent would make medical decisions for the Principal if the Principal becomes incapacitated and is unable to do so.
In a power of attorney, the Principal is the person who is appointing someone else (an Agent) to take action for the Principal.
In a power of attorney, the Agent is the person who is appointed to take action for the Principal.
You should appoint someone you trust. Typically, a spouse or an adult child is a good candidate.
A Durable POA allows you to designate someone (your "Agent") (usually a spouse) to perform transactions for you if you are unable to do so yourself. You may make the designation/power effective immediately which would allow your designated agent to act for you if you are unavailable, but not incapacitated (i.e. out of the country). Our customers usually elect to make the Durable POA effective only in the event that you become incapacitated.
A Medical POA allows you to designate someone (your "Agent") (usually a spouse) to make medical decisions for you in the event you cannot.
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