Many people consider creating a will, but fail to do so until it is too late. Having a will in place is often a critical step of the estate planning process and can provide numerous benefits while also helping you and your loved ones avoid negative situations and additional court fees.
Some of the benefits of having a will in place include:
- Being able to transfer your property to whomever you desire upon death
- Being able to set up an independent administration that can save your loved ones thousands of dollars that come from probate expenses
- Being able to set up a trust for your minor children until they turn a certain age
- Being able to set up guardianship designations for your children
- Being able to include or exclude extended family
What Is A Will?
A will is a written legal document that designates the beneficiaries of your property at the time of death. In addition to this, a will can also appoint a legal guardian for any minor children that you may have. The attorneys at HPKD have an in-depth knowledge and great deal of experience in the drafting process. We are well-prepared to help you create a legally sound document that clearly expresses your wishes and gives you and your family the protection and peace of mind you all deserve.
The act of creating a will is a relatively simple process that nonetheless requires a knowledge of the current laws. The document must be signed and witnessed once it has been completed. It is flexible and can be amended to your changed preferences at any time during your lifetime.
What Happens If I Die Without A Will?
Without a will or some other legal method to transfer your property upon death, the State of Texas will determine the fate of your property according to intestacy laws—technically, we all have a will—you just may not have written it yourself. This means that assets will generally be transferred to your spouse, children, or closest relatives. In addition to this, a court will also determine legal guardianship for any surviving minor children. Simply put, having a will in place can save your family a great deal of money, time, and emotional frustration.
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