Why Is A Last Will So Important?
A will, also called a “last will and testament,” can help you protect your home and your assets. You can utilize a will to: leave your residential or commercial property to people or companies, call a personal guardian to look after your small children, call a trusted person to handle your property, and delegate minor kids. This person is called an executor, the person who ensures that the terms of your will are carried out.
Making a last will and testament can create a plan for the distribution of your property after your death. Texas wills provide the testator (the individual making the will) the chance to specify how they want their estate distributed after their death, and providing important support for children and husband or wife.
It is an uncomfortable truth that every one of us will one day die. We don’t look forward to that day but must face the inevitability of it. Without a will, the state will determine how property is distributed, and additional legal proceedings will be required which can increase the cost to loved ones, and prevent property from being distributed according to the wishes of the person who has died. Creation of a last will and testament offers security and peace of mind to the loved ones we leave behind.
Texas’s intestacy law provides that property is distributed to the blood relatives of the deceased, beginning with spouse and children. If there is no spouse or children, property goes to the grandchildren or parents. This list continues with increasingly far-off relatives, including brothers or sisters, grandparents, aunts, and uncles, cousins, nieces, and nephews, etc.
While Texas does allow holographic wills, there are many pitfalls. In most circumstances, it’s recommended to obtain advice from an attorney.
This is only basic information about wills in Texas. There are many different nuances of Texas Wills which are important to understand. If you would like additional information, please call our office and let us provide a free consultation on such matters.