
A "Will" ( sometimes formally called a "Last Will and Testament" ) is a legal document prepared in accordance with legal guidelines to direct how you want your property distributed upon your death. Who gets the house? Who gets which antiques? Who gets a bank account (assuming it does not name pay on death beneficiaries)? Who takes care of the pets? Who gets everything else? These are just some of the questions a Will answers and directs, and just some of the information we will obtain to draft your Will.
Our estate planning attorney in Texas will review your assets and discuss with you what you want with regard to your estate. Making sure your goals for today and tomorrow are met is our personal goal at Adams, King, & Smith. Contact us online or at (903) 757-3331 to learn more about Wills specifically and estate planning generally so that your wishes are met and those you care about are provided for.
What is the Purpose of a Will in Texas?
The person creating a Will is known as a testator. The testator devises property and assets to named beneficiaries in a Will. This gives testators control over assets – both while they are alive and after they pass away.
As such, Wills serves serve very important purposes:
- They allow property owners to control what happens to their property after they die.
- They protect the decedent's beneficiaries, including minor children by naming a guardian.
- They allow you to appoint who you want to oversee the estate.
General Requirements of a Will in Longview
- The testator must have testamentary intent, meaning the testator subjectively intended to create the Will.
- The testator must have testamentary capacity, meaning that they understood they were creating the Will at the time of its execution.
- The Will must have been executed without the interference of fraud, duress, undue influence, or mistake.
- The Will must have been duly executed through a proper ceremony––for example, signing the Will and having witnesses.
Intestacy: The "Default" Method if You Die Without a Will
If someone dies without a Will, this is known as dying "intestate." There are two key reasons to create a Will, rather than relying on intestacy laws to devise your property, and the reasons relate to family and probate matters. Should a person die intestate, state law controls who gets the property, and it may not be at all what you would have wanted. It can also result in serious complications if young children, an incapacitated heir, or if the heirs do not get along.
Family
Intestacy laws aim to pass property in a way that most people would want it to pass, which typically means property is passed to immediate family members first, including a spouse ( although in second marriages, there may be complications or unwanted consequences), children, parents, siblings, grandparents, and so on. Intestacy laws only benefit you if the distribution aligns with it your wishes as to those you would want to have it in the proportion that you would want. A Will avoids untoward consequences.
A problem arises if you have a strained relationship with a family member, or if that family member might not have the capacity or judgment to handle the property ( think addiction, immaturity or other circumstances that argue against outright receipt of what might be property of substantial value). This will not be taken into consideration when the State steps in to distribute your assets. This could result in property, passing to a relative you would not wish to receive it.
Probate
Property that is titled or of significant value governed by intestacy law typically must pass through probate court, which can be expensive and time-consuming, leaving fewer benefits and more burdens for your loved ones. That said, a valid Will also goes through probate to implement its provisions. The only difference is that a well-crafted last Will and testament will usually go through probate much quicker, with much less expense or distress and without incident.
Further, there are other ways to distribute property according to your wishes while also avoiding probate completely. Speaking with an estate planning lawyer will help you determine what will work best in your specific situation and with your specific assets.
The Risks of “Do-It-Yourself” Wills in Texas
The expense and lack of control that comes from dying intestate, coupled with the perceived costs of hiring a lawyer to write a Will, has led to a huge increase in the use of “do-it-yourself” Wills. These forms, often found online for a fee, claim to be just as good as a traditional Will prepared by an experienced attorney. They usually are not.
These "one size fits all" documents, however, are not tailored to your unique circumstances. The process to create a DIY Will is often accompanied by mistakes that open the door for challenges to the validity of the Will upon your death. In fact, a court may determine the Will is completely invalid. We have seen many of these situations, to the great distress of intended beneficiaries. Don't let this happen to your loved ones.
If you decide to try a DIY Will first, at the very least, it is a good idea to have an attorney review the document to make sure it's in compliance with state laws.
Contact a Wills Attorney in Longview, Texas
If you are considering making a Will, you need to be sure that it complies with the law. At Adams, King, & Smith, our Wills attorney helps clients in Longview create Wills that comply with state law so you don't have to worry about it. We know how hard you worked for your assets and understand why it is so important to distribute your assets in the way you see. Contact us by filling out the online form or calling us directly at (903) 757-3331 to schedule a FREE CONSULTATION FOR WILLS, PROBATE OF A WILL, OR ESTATE PLANNING TO INCLUDE TRUSTS.