Every adult with a spouse or children should have a Will. The purpose of a Last Will and Testament is fairly obvious. Without a Will, in order to administer your estate, your family and loved ones will be required to go through a process called a dependent administration. The Probate Court will be required to distribute the assets of your estate under the laws of the State of Texas. A dependent administration will subject your family to increased court costs and attorneys fees, plus more time consuming hearings.
In contrast, if you have a Will, and it does need to go through the probate process, you will have an independent executor who can handle your estate as an independent executor which generally makes the process more efficient and cost effective.
Your Last Will and Testament is just that. It is where you state your intentions of what you desire to happen with your possessions and children, if any. The language of a Will can vary greatly, however, depending on many factors such as whether the estate is subject to federal estate taxes. Wills can also vary greatly depending upon the circumstances of the families involved. For example, if one of the children and beneficiaries is incapacitated or a spendthrift, then you might want to take extra precautions to protect your estate. Most Wills are fairly straightforward and simple. However, if the need arises, we can prepare Wills that are quite complicated. Some will include trusts that are necessary to ensure that your wishes are fulfilled.
If you don’t have a Will, it is never too early or too late to get one drafted. A simple Will is not too expensive, it doesn’t take much time, and once it is written, it doesn’t expire. It is a convenient way to provide protection, comfort and security to your family in a time of crisis. If you are a resident of Tarrant County, Denton County, Parker County, Hood County, Ellis County, Wise County or Johnson County, Texas, contact us at 817-616-0734 to arrange a consultation at our Keller office. If you cannot come to our office, we can often make arrangements to come to you.