...

Why You Should Have a Will

Why you should have a will? Your will basically dictates the distribution of your estate after your death. Dying intestate (without a will) means Texas state law determines asset distribution. Dying testate (with a will) lets you select your Executor or Personal Representative. Wills legally protect your spouse, children, and assets, and simplify the probate process for grieving loved ones.

Discover the top three reasons to have a Texas Family Law attorney draft your will.

1. Decide How Your Estate is Distributed

Unless you have a will created that includes your plans for your assets and estate, it will be impossible for anyone to distribute your property exactly as you desire. Additionally, without a will, it is very likely that there will be litigation over your estate 鈥 especially if you own real estate or other difficult to divide assets at the time your death. If you own a business, a will can even help to ensure there will be a smooth transition of those assets.

If you die without a will, it is possible that a portion, or the entirety of your estate may pass to someone you did not intend. Creating a will and appointing an executor lets you empower them to organize your affairs and ensure adherence to your post-death wishes.

2. Avoid Lengthy, Costly Probate Process

Probate is the process by which the courts distribute assets and property, either in absence of, or under the direction of a will. Contrary to popular belief, all estates will go through the probate process, with or without a will. However, having a will can make the process quicker and more organized for your heirs and family. When you clearly state your bequests and asset assignments, you reduce potential family tension from court battles over asset division.

3. Provide for Your Children

Having minor children is another important reason why you should have a will. You may assume that the correct family member will step up to take care of your children, but if that person is not the next of kin, without a will the State may designate someone you may not approve of as guardian for your children. To guarantee your children鈥檚 upbringing by your preferred person, consider drafting a will soon.

Additionally, as life changes 鈥 be it through divorce, remarriage, or other major life events, it is a good idea to revisit your will periodically to ensure that your will is current with your desires and assets. Even with a small estate, drafting a will ensures proper management of your affairs after passing. Contemplating death might be challenging, but remember, the future is uncertain.聽In order to avoid added stress when a familial death occurs, it is wise to meet with a Texas Family Law attorney, who can help you draw up an estate plan that will protect your estate and heirs.

Book an appointment with Law Office of Bryan Fagan using SetMore

Ebook

Adobe Stock 62844981[2]If you want to know more about what you