- You get to decide how your estate will be distributed after your death. The Texas Legislature has rules set out for property after a person dies without a Will. Those rules may not be favorable to you and may not comport with your beliefs. To ensure that your property passes according to your wishes, it is important to have a Will in place.
- To avoid a probate process that could be lengthy. The probate process under the rules set out by Texas Legislature for intestacy (passing without a Will), you have to have two disinterested witnesses who can testify as to family lineage to confirm how the property will be distributed.
- You get to pick your executor. In an intestacy process, it’s the person who brings a probate heirship proceeding that is likely the person who gets appointed to manage and distribute your estate after your passing. By appointing an executor in your Will, you get to chose a person you trust to manage and distribute your estate for you after your passing.
- You get to disinherit someone you do not like. Having a Will allows you to disinherit anyone you do not want your property to pass to.
- You are able to make gifts or donations. Having a will allows you to donate a portion or part of your estate to a charity of your choice. You can make the gift outright and your executor would ensure the gift is passed to the charity of your choice.
- You can amend and change your wishes at any time. With a Will, you are able to change your mind on who gets the inheritance at any point and change the document. You are able to make as many changes as you please.
- You are able to designate guardians for your minor children. Wills are able to allow you to prepare for care for your minor children. You are able to even put your child’s portion of the money until they turn 18 years of age in a trust for their benefit.
- Wills are not expensive. A Will costs somewhere from $300-$500 to prepare. They are inexpensive and easy to draft.
- Death never comes with a warning. Just like you can never predict the weather, you can never predict your death. It is always safe to have something that protects your family and your interests at all times. In an event you pass away suddenly, a Will will guarantee your property will pass according to your liking.
- Reduces Stress. Having a Will in place alleviates stress from you as well as your family members. You can be sure your wishes will be followed. It will prevent your family from hunting down two disinterested individuals who have known you for your entire life.
If you do not have a Will, but are in a dire need for one, please contact experienced attorneys, like an estate planning lawyer Arlington TX trusts, today.
Thanks to our friends and contributors from Brandy Austin Law Firm PLLC for their insight into the reasons you need a will.