A Final Will and Testament
Many people may not put much thought into the importance of having a last will and testament. Some think they have plenty of time or can wait till they get older in age. The truth is there is no certainty in life, and you could pass at a younger age than you imagined. Accidents happen, and illnesses don’t have a specific age preference. A last will and testament are not legally required, but without one the state will determine the distribution of your assets. You may have a plan in mind, but it won’t make a difference unless you legally document it. Keep in mind, if you don’t, the court’s rule may not coincide with your wishes. Another problem is it could be a burden on your family and cause a rift as family members begin to argue over possessions or what they think your wishes would have been. More than likely this is not what you want for your family.
As a young adult, you might think you don’t have much in the way of assets. But it is possible you may have a savings account, antiques, a vehicle. This can include digital assets such as music, photos, PayPal accounts. Even though this may not seem like much, it is a good start. You can always revise your will and add assets and beneficiaries throughout your life. Deciding what age you want to start writing a will is up to you, but in the long run, you won’t regret starting early.
One benefit, other than the obvious, is you can name an executor to your estate. This person will be in charge of carrying out your wishes, giving you peace of mind knowing your family will be okay. Another great thing is you can choose a guardian to care for your minor children, and the state of Texas allows the creation of a trust for the care of pets, called a pet trust. Another thing to keep in mind is having a valid will can make the probate process go smoothly. In the state of Texas, there are a few requirements that must be recognized to be a valid will, such as, age, mental capacity, and witnesses. Speak with an experienced Estate Planning and Probate attorney for more information or any questions you have. Even though you have expressed your wishes to your family verbally or you assume they automatically know what you what, it is in your best interest to have a will in place.
Estate Planning Attorney in Wylie
You can’t go wrong by putting your family first. You’ve worked hard for what you have, and you want to leave it to your loved ones. The reality is your family will be going through a hard time, and it is not fair to put them through any conflict that will arise in the absence of a will. Contact the attorneys at Edmondson Law, PLLC today if you have any questions about drafting a will or questions about your current will. Call our office at 972-442-8326 or visit www.wylietxlaw.com.
Information, Not Legal Advice. We provide the information on this website as a public service. The legal landscape is constantly changing and being modified by state law and case law. As a result, we cannot promise that this information is always up-to-date and reflective of the most current jurisprudence.
We do not intend this information to be legal advice. By providing this information, we are not acting as your lawyer. If you need legal advice, you should contact a lawyer through our number (972) 442-8326 or contact another attorney of your choosing.