Wills

Surprisingly, recent surveys report that less than 50% of Americans have a Will. But a Will is a basic document that every adult should have.

Why Is a Will Important?

A Will puts the control of your property in your own hands. It allows you to decide who gets what of your probate assets (those which pass through the Will, and not through a beneficiary designation or trust).

It allows you to name the guardian of your minor children, instead of a judge who does not know your family or friends. It streamlines the administration of your estate, so the Executor spends less time and money in court, and more effort on getting your estate into the hands of those who have inherited it.

A Will lets you choose your Executor, rather than the court choosing one for you.

What Happens If You Die Without a Will In Texas?

If a person dies without a Will, the State of Texas decides who gets your property. Many times, that means your children from a prior marriage will inherit what you thought would go to your spouse.

This situation can strain family dynamics and lead to conflict. If your children are minors, the law will require a guardianship proceeding for them to be able to benefit from their inheritance. Without a Will, you are unable to instruct the terms of payments to your children or on their behalf. Moreover, the determination of all of these details requires investigation by court personnel into your family situation and public hearings.

How a Will Protects Your Family and Assets

Even when a client’s goal is to avoid probate, a Will is still needed for purposes other than the passage of property. We cannot know the circumstances of a person’s death. For example, if a death is the result of an accident, the Executor named in the Will is the representative of the estate who can pursue claims on behalf of the decedent (the deceased person) or defend against the decedent’s liability. The Executor has the authority to negotiate any debts with creditors. The Will also “picks up” and passes on any asset which the testator (the person making the Will) may not be aware that she owns, or mistakenly believed had a beneficiary designation.

Work With Experienced Texas Estate Planning Attorneys

There are certain essential parts of a properly-drafted Will, such as the naming of an independent Executor, waiver of bond, and self-proving affidavit. It must be properly executed, with two qualifying witnesses and a notary. Precise wording is important to ensure that all assets are fully disposed of to the correct beneficiaries. These documents should be written by a lawyer who is well versed in Texas law and understands the probate process.

However, if expense is the barrier to undertaking full estate planning and preparing your own Will, Texas has promulgated form Wills for use by the public. Unfortunately, the form terminology is often confusing to people, and it is easy to make a costly mistake. These Wills do not take the place of full estate planning with an attorney, and they are very limited in scope, but if your assets are minimal, ask how we can help you to prepare these documents so that you do not leave your family with an expensive mess at your death.