Executing a valid will is one of the simplest and most important forms of estate planning around. Despite this the number of people that die intestate (without a will) is staggering. All too often life throws us curveballs, whether they be an unexpected death or disability. For this reason, it is never too early to prepare a will. The attorney’s at The Farah Law Firm, P.C. can make your will preparation a painless process and as your life changes, be it marriage, a birth, a death or divorce, our attorneys will be there to make changes as necessary.
1. Where There’s a WILL, There’s a WAY…
…to distribute your estate exactly how you planned. Upon your death, a will is going to act as your legacy amongst those whom you love by leaving them with what is yours. Drafting this legal document will help to lessen disputes about the disbursement of your belongings.
2. Easier Probate Process
Probate can be a rather lengthy process. Regardless of whether you have a will, all estates must go through the probate process. A will is going to speed up the probate process since you’ve already planned out your estate division. If you die without a will, the State of Texas has provided guidelines to determine to whom and how your possessions and property will be distributed. Despite the State’s good intentions, these guidelines can, and often do, result in unfair and undesirable distributions.
3. Deciding Who Your Executor Will Be
When picking an executor, you will typically elect someone who is reliable and trustworthy. Their job is to cancel all your credit cards, inform the bank/business foundations of your death, and also pay off any and all of your bills. Executors can be any one of your choice – not just a family member. They do play the most crucial role in your death, so choose wisely
4. Disinheriting Capabilities
One of the worst things that could happen without a will is your estate being put in the wrong hands. Did you know that you can disinherit someone who is lined up to potentially inherit your assets? It’s true! You can distribute your assets to those you actually care for, rather than them be given to family members you haven’t seen in years, or didn’t even know existed.
5. Protecting Your Minor Children
If you’re a parent, you’re probably wondering what will happen to your kids if you are no longer with them. The truth is, anything can happen. However, you do have the right to decide who your children’s legal guardian(s) will be, after your death. Pick someone you can trust with your children that will raise them the way you would. If you fail to leave a will, the court will then choose someone amongst the family or a state-appointed guardian.
Your loved one will have plenty worry about once you pass away; don’t make fumbling through the intestate succession guidelines one of them. Passing on is not something anyone wants to think about, but being prepared will give you peace of mind knowing that your belongings will be distributed the way you desire. We are not promised tomorrow, so act before it’s too late. Contact The Farah Law Firm, P.C. to discuss your options and prepare your will today.