Planning for the future is an essential aspect of life, and many people choose to plan for the future by creating a Will. A Will is a legal document that outlines how your assets and property should be distributed after your death.
It can also name a guardian for your minor children and designate an executor to manage your estate after your death.
You may find yourself wondering, “should I have a Will?” The short answer is “yes”. When it comes to estate planning, having a Will is crucial to ensuring that your assets and property are distributed according to your wishes after your passing.
However, drafting a Will is not as simple as writing down your wishes on a piece of paper. While it may seem like a DIY approach to drafting a Will is a cost-effective solution, it is crucial to seek the services of a qualified attorney to ensure that your Will is clear, comprehensive, and legally binding.
In Texas, there are specific requirements that must be met, and failing to comply with them can result in your Will being declared invalid.
If your Will is declared invalid or if you pass away without a Will (called intestate), your estate will be distributed to their heirs as determined by the state.
In that case, distribution will be solely determined by the legal relationship between you and your potential heirs; the closeness or quality of your relationships is not considered in any way.
For this reason, passing without a Will often triggers unwanted results and unexpected costs and delays for those left behind. Consider the following illustrations:
Get in Touch with an Estate Planning Lawyer in Waco Today
Having a Will is essential to ensure that your wishes are carried out after your death. Even if you already have a Will, your Will should be reviewed periodically and updated to reflect any changes in your life circumstances.
Our expert estate planning attorneys can help you review and update your Will as needed, ensuring that your wishes are always up-to-date.
We have been helping Central Texans for over 50 years. Don’t leave your estate planning to chance – call The Zimmerman Law Firm today at (254) 271-2540 or contact us online.