Secure Your Estate with a Last Will and Testament
Creating a last will and testament is a vital step to ensure your estate is distributed according to your wishes and your family members are taken care of after your passing. At the Hailey-Petty Law Firm in Austin, TX, we recognize the importance of setting up a will and provide comprehensive estate planning services to guide you through the process.
Steps to Setting Up a Will
Legal Requirements for a Will
In Texas, to create a valid will, the person making the will (testator) must be at least 18 years old, married, or a member of the armed forces. The testator must be of sound mind, understanding the nature and extent of their property, the natural objects of their bounty (family members and potential heirs), and the dispositions they are making in the will.
The will must be in writing, signed by the testator (or someone else at their direction and in their presence), and witnessed by two disinterested individuals who are at least 14 years old. Including self-proving affidavits signed in front of a notary public can expedite the probate process.
Drafting and Executing the Will
Working with an experienced estate planning attorney is crucial in drafting a will that meets all legal requirements and fully addresses your needs. An Austin will attorney at the Hailey-Petty
Law Firm can help you outline the following key elements:
- Naming an Executor: Appoint a trusted person to manage your estate, file your will in probate court, and oversee the distribution of your assets.
- Distribution of Property: Specify how your personal property, real estate, bank accounts, retirement accounts, and other assets will be divided among your beneficiaries.
- Guardianship of Minor Children: Nominate a guardian for any minor children to ensure their needs are met and they are cared for by someone you trust.
- Disposition of Remains: Include instructions for funeral arrangements, burial or cremation, and organ donation if desired
Safekeeping Your Will
Once your will is created, it’s important to store it in a secure place where it can be easily accessed after your death. A safe deposit box or a secure location at home are good options. Ensure your executor knows where to find the will and any other important legal documents.
Advantages of Having a Will
Control Over Asset Distribution
A will allows you to specify exactly how your estate is distributed, ensuring that your wishes are followed and reducing the risk of disputes among family members. Without a will, state law will determine who inherits your assets, which may not align with your intentions.
Simplifying the Probate Process
A well-crafted will can simplify the probate process, making it easier for your executor to manage your estate and distribute assets. This can save time and reduce the stress on your loved ones during a difficult period.
Minimizing Legal Challenges
A will creates a legally binding document that outlines your wishes. This can reduce the likelihood of legal challenges and ensure your assets are preserved for your beneficiaries.
Comprehensive Estate Planning
In addition to a will, other estate planning tools such as trusts, powers of attorney, and advance directives can provide further protection and control over your assets and healthcare decisions. Life insurance policies and retirement accounts should also be reviewed and updated as part of a comprehensive estate plan.
Securing your Peace of Mind
Creating a will with the assistance of an Austin will attorney gives you peace of mind, knowing that your affairs are in order and your loved ones will be cared for according to your wishes. It’s a proactive step that can significantly impact the well-being of your family members.
Let’s Secure Your Family’s Future Together
If you are considering setting up a will or need assistance with any aspect of estate planning, contact the Hailey-Petty Law Firm in Austin, TX. Our experienced estate planning attorneys are here to provide the guidance and support you need to create a legally binding will that meets your needs and ensures your estate is distributed as you desire. Call us today to schedule a consultation and take the first step towards securing your family’s future.