A will is a legal document that outlines your wishes for how your property will be distributed after your death. In your will, you can also name who will take care of your minor children if you should die before they reach adulthood. Wills are an essential part of any estate plan. If you die without a will, your last wishes may not be fulfilled. Your heirs may also be forced to spend a great deal of time and money settling your estate.
For a will to be legal and valid in Texas, it must meet the following requirements:
You, the testator, must also be:
You may assume that wills are only for wealthy individuals, but everyone can benefit from having a will. Having a will is especially important if you have assets, heirlooms, or other items you want to give to others after you’ve passed away.
A will puts you in the driver’s seat, so you control who gets what after your death.
There are many advantages to having a will:
If you don’t make these decisions through your will, the court will make them for you. And the court’s decision may not be what you would have wanted. Additionally, wills can help your family member avoid estate litigation since you will clearly state your wishes in this document. Finally, wills also speed up the probate process so your heirs can easily access your assets.
While it’s possible to prepare a valid will on your own, it’s in your best interest to work with an experienced Houston estate lawyer. An attorney can help ensure everything is in order, so your family doesn’t have issues after your death. It’s also important to remember that a will is just one part of your estate plan.
A will can cover a number of things, but here are some of the most important things to include.
Your will should name your executor. This is the person who will carry out your wishes after you’ve passed away. They will meet with your family after you pass away. Before naming an executor, make sure you speak with the person and get their approval. The executor has a difficult job, so it’s important to choose someone who is up to the task.
Assets include anything you own, such as physical property, a house or car, or funds. This is one of the most important things to include in your will. Including your assets in your will is the best way to ensure that your belongings go to the right people.
Through your will, you can determine who inherits each of your assets, including:
If you want to leave your 1960 Mustang to your grandchild or your great-grandmother’s doll collection to your great-niece, you can do so through your will. Real property can also be included in your will, but the process is more complicated and requires an attorney’s help.
If you are the parent of minor children, your will can dictate who will take guardianship of your children if you should die before they reach adulthood. Including guardianship wishes in your will is one of the best ways to ensure that your children are taken care of by the people you trust.
If you have pets, you can name caretakers for your furry companions if you should pass away while they are still alive. Pets are typically given to spouses or next-of-kin, but if there’s a specific person who you’d like to care for your pets, you can name them in your will.
Make sure you discuss this with the person before naming them in your will.
A will is an essential estate planning document that will dictate who inherits your assets. Don’t take chances with your last wishes. Working with an experienced Houston wills lawyer can ensure that your will is legal, valid, and comprehensive.
When you need to reach out to our office, you won’t have to wait hours or days for our response. Here at Stafford Law Firm, we pride ourselves on being easily accessible and responding to all client inquiries as soon as possible. The fact of the matter is, one day, you will need to fall back on your estate plan. Whether it is simply to pass on your family’s wealth after you pass or something even more heartbreaking like needing a new guardian appointment for your children, having a thorough and customized plan in place will help ensure your family and your future are well taken care of. This plan will often need to include a will, and you can rest easy knowing that an experienced Houston will attorney has your best interests at heart. Whether you need help with wills, trusts, probate and estate administration, or other family law matters, you can rely on our law office.
Reach out to our law firm today for a free consultation for legal services concerning your elder law, business law, and estate law needs.
When creating your will, you can only include assets that you own individually. This means that you can’t include any property you own with your spouse or any property owned in a living trust. You also cannot include life insurance proceeds that have a beneficiary, or retirement plan proceeds. Passing these onto your loved ones after your death will require separate documentation.
If you own property without anyone else on the deed, there are a few simple ways to make sure your child inherits it. You can include it in your will, you can sign a transfer on death deed, or you can even gift the property to them before you pass.
Wills and trusts are two different documents that accomplish different things. Most people will find that their estate plan will benefit from having a will and one or more trusts. An experienced Houston will attorney will be able to review your particular situation and help you come up with the right set of documents in order to carry out your wishes.