Taylor Willingham is an Estate Planning and Probate Attorney located in McKinney, Texas. Will Probate Attorneys Firm is the first choice as they focus exclusively on Probate & Estate Planning.

1. Benefits of hiring a
probate attorney
Many of us have heard the word ‘probate lawyers' several times.
However, really few know what exactly they do and why we should seek
their services. If you are one of those people, here is all the information
you should know about probate lawyer in McKinney Texas.
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2. What is probate?
In simple words, probate is the procedure that occurs after someone passes away that involves
taking care of any debts and distributing assets. This process occurs regardless there is a will or
not.
A probate lawyer is basically an estate or trust lawyer. He helps to create a plan to allocate the
assets of the decedent to heirs. He manages the filing of the last will or testament of a deceased
individual. If there are any disputes regarding the disposition of property, probate lawyer helps
you to resolve those issues.
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3. When it comes to challenging a will in a Texas, it is very stressful and emotionally difficult. By
hiring a probate attorney in McKinney Texas you can ensure that your interest is protected in the
legal battle.
It is very common that many people do not have enough information about a probate lawyer.
Until someone has passed away, many people do not think of finding a probate lawyer. Hence,
when someone passes away, in the urgency, people do not get enough time to gauge a lawyer's
skills and expertise and sometimes this result in making a wrong choice.
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4. To avoid such a condition, it is necessary to have adequate information about
probate lawyer who will best represent your interests.
It is extremely necessary to ensure that everything is taken care of well
before passing on, otherwise even a single mistake can set back your executor
by months. A probate lawyer possesses special expertise required to prepare a
will and has a thorough knowledge of everything that needs to be done to
probate an estate in a timely manner. Hence, working with him proves a
beneficial decision.
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5. Duties of a probate
lawyer:
• A probate attorney can help you make a last will and testament. This will
ensure that the family members of a decedent can have some security.
• He can also assist with trust planning, powers of attorney and medical
powers of attorney.
• A probate lawyer can help an individual with asset protection.
• He assists in the preparing and filing of all documents needed by a probate
court.
• A probate lawyer can request court permission for various actions and the
retitling of the decedent's assets to the heirs.
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6. When Should I Write a Will?
At the Willingham Law Firm, our attorneys
often get questions about when someone
should write a will. A will is a great thing to
have in the event you or someone close to
you passes on. But when should one create a
will? This is a complicated question to
answer. Let’s break down the reasons why
someone would need a will in the first place.

7. What is a Will?
A will is an complex legal document.
At the Willingham Law Firm, we have
created thousands of wills through
complex estate planning in McKinney,
Texas. Many people have heard of one
from various movies and television
shows but very few know what one is
exactly. Let’s iron out some of the
specifics about what a will is before
we get too much into the why and
how of it.
Where there is a will, there is a way

8. What if I die Without a Will in Texas?
 This is a question that not a lot of people think about until it’s too late.
People die every day and many do not have wills. In some cases this
isn’t a major issue, however, in a lot of them it can be detrimental.
Not only for your loved ones but also any organization you may have
wanted to help upon your passing. To avoid lengthy legal battles and
ensure those you care most about are taken care of, a will is not only
recommended but highly warranted.

9. What types of property pass to your
beneficiaries outside of a Will in Texas?
 What types of property pass to your beneficiaries outside of a Will in Texas?
 One of the key points of a will is to make sure that something is left behind for the people you
care most about. However there are certain things that automatically by design do not or should
not be stated in a will.
 Life insurance
 Life insurance, like a will, is a means to make sure your family is taken care of should you
unfortunately die. One of the key elements of a life insurance policy is that you have to specify a
beneficiary who will receive the money upon your death during its inception. Because a life
insurance policy has to have a listed beneficiary on its own it shouldn’t be outlined in your will as
the designated beneficiary is already chosen.
 Retirement investments
 Planning for one’s retirement is tough enough let alone thinking about what will happen to
it after you have passed on. Unlike other assets, retirement accounts have special measures
attached to them that alleviate some of the guess work that comes after one dies. Similar to life
insurance, retirement investments like 401K’s or IRA’s have to have a beneficiary listed in their
creation. This is to safe guard the investment in the event of the investor passing away. Because
this already has a specific beneficiary attached to it, it will automatically default to whoever it is
assigned to upon your passing.

10.  Stocks and bonds
 Stocks and bonds, unlike life insurance or retirement accounts, do not
automatically designate beneficiaries when purchased. However, listing them in a
will may not be for the best as all inheritances put forth in a will goes through a
probate court. This to ensure all assets are accounted for and to inform all
connected parties of the death of the person who previously held the assets.
However, many states have a Transferable On Death (TOD) law in place that allows
for stocks and bonds to be passed on to a designated beneficiary. As long as the
specific assets are registered as TOD and a beneficiary is listed then the stocks and
bonds would bypass the probate court and would not have to be listed in the will
for the beneficiary to receive them.
 Bank accounts
 In life bank accounts serve as a safe repository for your finances. After you are no
longer around, they are one of the many assets you can use to help your loved
ones. A payable upon death bank account is a specific bank account that allows
you to name a beneficiary to receive the funds held in the account upon your
passing. Not all bank accounts are set up this way by default so it is best to check
with your bank and see if any current accounts are listed as such and if they are
not, what you have to do to make them.

11.  Trusts
 Another asset that can help manage the care of families and especially children is living trusts. A
living trust is a specific fund that is governed with guidelines by a designated trustee. A trustee is
very similar to the executor. They are a person or entity that you feel will abide by the guidelines
you set forth regarding the usage of the funds in the trust. For example a college trust would have
a designated amount of money in it to go towards a specific beneficiary upon reaching college age.
Like with a will the beneficiary has the choice to use the money however they see fit as long as
they reach the requirements specified and are over seen by the appointed trustee. As this asset is
already designated to a specific beneficiary, there is no need to designate it to them in your will as
they will already be receiving the money. Additionally trusts like other assets that do not require
being assigned to an individual in a will would bypass probate as well.
 State by state
 As is with most cases these rules can differ from one state to the next. Before you begin making
plans for after you are gone it is highly recommended that one consult with an attorney prior to
taking steps regarding their will. The Willingham Law Firm has great estate planning attorneys in
McKinney, TX waiting to assist you in the creation of your will.
 A tough road ahead
 Thinking about one’s eventual demise is never a fun task. The last thing anyone wants to do is plan
for when they are gone. A will is a step in the right direction no matter how you slice it. But a will
only goes so far, by taking some of the above steps into account you can make sure that when the
time arises you can rest easy knowing that you have successfully taken care of those around you.

12. Business Formation
Our head attorney, Taylor Willingham,
started his law firm as a General Practice
Attorney in McKinney, Texas. As a General
Practice Attorney, Mr. Willingham has been
involved in cases in Negligence, Fraud,
Real Estate, Deceptive Practices,
Bankruptcy, Probate, Divorce, Criminal,
Estate, and Tax litigation. All of these
areas have helped him develop a broad
understand of the legal world and its
complexity.

13. CALL TODAY FOR YOUR CONSULTATION – (214)
250-4407 or Visit
:http://willprobateattorneys.com
http://willprobateattorneys.com/