The Importance of a WillI have had conversations with people over the years and it has become apparent to me that there is a great deal of disinformation regarding the importance of a will. In fact, I recently talked with a Texas Probate Judge and she told me that getting a will is one of the most important things a person can do for his or her spouse and children. A relatively small amount of money spent for a will can save thousands of dollars in legal fees and numerous headaches for a person’s heirs. Many people, including my own mother, are reluctant to actually draft a will. However, I can state with certainty that a will is the one legal document that every person will need. Your failure to have a will may affect something as basic as your own spouse’s right to inherit your interest in your home. The vast majority of people do not have to worry about the state getting their assets if they die without a will. The law provides that the individual assets will pass to heirs at law in most instances even without a will. However, the failure to leave a will means that your assets will pass according to state law rather than according to your wishes. If you leave a valid will that is properly witnessed with a self-proving affidavit, the executor of your estate will have the ability to enter the will into probate and follow your wishes as set out in your will. For example, most homes owned by married couples are titled in both names. If one person dies without a will, the surviving spouse will have to set up an independent administration in order to change the title so that only the surviving spouse’s name is reflected on the deed. An independent administration is a vastly more expensive and difficult probate proceeding than the simple admission of a will to probate. That is just one example of the many difficulties encountered by heirs who must manage an estate that is not established by a will. The Texas Probate System is considered to be one of the most modern in the country. It is actually being used as a model by other states. The legislature is in the process of creating a network of Probate Courts throughout the entire state. Every person who has attained the age of eighteen years, or who is or has been lawfully married, or how is a member of the armed forces of the United States shall have the right and power to make a Last Will and Testament in the state of Texas. A will is generally defined as an instrument by which a person makes a disposition of his property to take effect at his death. The Texas statute governing execution of attested wills is one of the most liberal of any state. All that is required is that the will be signed by Testator and attested by two witnesses over the age of fourteen each of whom must sign in the presence of the Testator and in the presence of a notary public. A self-proving affidavit constitutes evidence of the validity of the will’s execution. A person may change his or her will or draft a new will at any time during his or her lifetime. Additionally, when executing a will it is possible to execute other documents to make it easier for your heirs to properly take care of you and your assets in the event of death or catastrophic injury. Examples are a Statutory Power of Attorney which can be executed separately or in conjunction with a will giving certain rights to the designated individual in the event of injury causing incompetence or death. Additionally, a Directive to Physicians can also be executed simultaneously with a will thereby insuring that your wishes with regard to life support are followed in the event of catastrophic injury or death. I am prepared to meet with you individually and determine whether a simple will is sufficient or whether you need advanced estate planning. That decision will be based primarily on whether your net assets are in excess of the amount presently exempt from estate tax under the law. If it appears as though you require advanced estate planning, we will be happy to provide referrals to lawyers who specialize in estate planning. The majority of people will be able to utilize what is called a simple will. We are prepared to do these wills for half price between now and December 31st of this year. We have a sample Will Questionnaire which you can fill out and fax, mail or e-mail to my office. We will contact you upon receipt of the Will Questionnaire and schedule an appointment to prepare a draft of your will for review |
